Big cuts are coming down the pike if the Liberals get another majority according to the Toronto Star. McGuinty has Don Drummond on the job. He helped design the Chretien Liberals "surprise" $10B structural surplus with absurd reserve funds built into the budget. It was a big con job. Harper came along after and blew it all on a GST tax cut within 2 years before the recession hit.
In 2010, Drummond sided with Flaherty against Budget Officer Kevin Page's projection which showed the Cons created a huge structural deficit. Drummond, particularly worried about a future government reversing the GST tax cuts which big banks made a tidy profit from, began using creative accounting claiming there was no such thing as a structural deficit.
Let's face the facts. ON has a huge deficit because of a) Harris's Reaganomics tax cuts that didn't pay for themselves; and b) McGuinty is doling out billions in free-money corporate tax cuts to the rich that don't create jobs or raise productivity.
ON's economy is suffering because of the highly-overvalued dollar which is pricing value-added goods out of the global market. Future austerity measures will only depress the economy further.
All pain. No gain.
The only hope we have of the people being represented at the table instead of just bankers and corporations is if the NDP have a say in government. If people thought McGuinty was bad before, they ain't seen nothing yet.