Ontario vs California

Posted: February 18, 2011 in Uncategorized
Tags: , ,

California’s has an economy worth about $1.8 trillion annually give or take. On the other hand, Ontario’s GDP is roughly $580 billion dollars. In 2009-2010 fiscal year, California, which is the fiscal pariah of the US, ran a deficit of $26.3 billion. It nows has a total state debt of about $72 billion. Pretty bad, eh? Ontario ran a budget deficit in the same year of $21.3 billion to add to a total provincial debt of about $220 billion. Keep mind Cali has about 3 times the population of Ontario. Cali’s debt to GDP ratio is about 4%. Ontario’s is 37%. ┬áCali has about $1,950 of debt per person. Ontario? Around $17,000/person. So I guess we can keep smug in the realization our fiscal situation in Canada is so much better than that of the United States.

Just keeping things in perspective, that’s all.

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Comments
  1. Barb R. says:

    I have been hollering at the top of my lungs about this since the protests in front of Dilton McDoiley’s constituency office last summer.

    I am gratified to see that someone else GETS IT.

    Thank you!

  2. real conservative says:

    Canada has to join the US to save itself financially it appears.

  3. old white guy says:

    we continue to borrow against our huge natural resource base. one day it will catch up to us. provinces should not be allowed to run deficits.

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