Abstract
The Government of Ontario shows a current debt load of $343 billion dollars . The Ontario Financing Authority, which manages the provincial debt, forecasts a medium-term debt outlook of $437.8 billion dollars for 2021-2022, and $472.9 billion for 2022-2023. Debt not being free, 2021-2022 estimates show the fourth largest line item in our province’s budget will continue to be interest on the debt at $13.2 billion dollars. Without action by those elected to office, this problem can only worsen as interest rates rise, and the debt continues to balloon. Presented here are three actionable ideas that will ameliorate, not solve the debt crisis in Ontario. It will take buy-in from Ontarians, sacrifice from Ontarians, and courage from politicians to solve it.
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