>>>The (b)Right Libertarian: Fiscal Crunch for ON

Thursday, November 24, 2011

Fiscal Crunch for ON

See the dark clouds gathering?
Earlier this week I critiqued the Throne Speech the Ontario Government cobbled together to make things sound positive for the coming session of the Provincial Legislature. Yesterday the Provincial Minister of Finance had a more sober take on the new Liberal spending season ahead. He said: "As all Ontarians know, continuing to borrow without curbing spending is simply not sustainable." Someone must have whispered in his ear that a German Bond auction (6 Bn Euros) FAILED earlier in the day. Of course the Liberals have been the ones that are spending with borrowed money as if it's going out of style. The Euro, could be going out of style, and its that risk that the Ontario Liberals will no doubt blame for the province's woes when they are compelled to present a budget in the new year. It is fiscal crunch time.
Terence Corcoran (National Post) compares Ontario's looming problems with the Eurozone crisis, in this column today.

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Republic of Canada

The short-lived Republic of Canada is a little-known chapter in Canadian history. From 1837 to 1838 William Lyon Mackenzie and a small group of supporters occupied Navy Island in the Niagara River. The rebels were agitating for a government that was both responsible and representative. Although their struggle was not successful, eventually these ideals came to be represented in the government of Upper Canada and, later, the country of Canada we now know. Liberty was such an important value to this little group that they put the word on the flag, making this short, but important, episode of Canadian history something worth remembering.