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.

  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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