Downgraded! Welcome to double-A-negative territory.
theglobeandmail.com/news/national/rating-agen...
theglobeandmail.comPosted Dec 21, 2014, 7:38 PM UTC
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theglobeandmail.comAh yes...credit rating agencies. They were on top of their game in 2007.
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I can't seem to find how much we're paying yearly in interest. TheStar article says $11 billion, but that doesn't make any sense at $12 billion of debt.
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$10.9 Billion in interest on $267 Billion in public debt.
The deficit is just the budget shortfall for this year. The interest is paid on total accumulated deficits over time.
EDIT: What I find interesting is that our deficit is the size of our annual interest payments, i.e. we are now borrowing money to pay the interest on existing debt. A little like paying the minimum payment on a credit card with a new credit card
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Falling loonie and oil prices. If that sustains then all these new investments in the province will be in terrific shape.
We're fine.
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Downvoted! Welcome to still better than Hudak.
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They're six months behind - Ontario already from the other agencies had this downgrade. Wait until March and see then what the numbers are. This is just delayed crap.