Margaret Thatcher famously said the problem with socialism is that eventually, you run out of other people’s money.
In Ontario, that’s the problem with Liberalism.
More specifically, with Premier Kathleen Wynne’s Liberalism.
It’s not entirely her fault. She shares the blame with her Liberal predecessor, Dalton McGuinty.
Together, they more than doubled the $138 billion debt the Liberals inherited from the previous Conservative government in 2003 to over $300 billion, making Ontario the most indebted sub-sovereign (non-national) borrower in the world.
That explains the shell game Wynne is now playing as the clock ticks down to the next election scheduled for June, 2018.
It explains her reducing electricity bills to hydro ratepayers, by having them subsidized by provincial taxpayers.
Unfortunately, they’re the same people.
Laughably, Wynne and the Liberals now challenge the opposition parties to explain what they would do differently, the same tactic they used when they cancelled two gas plants at a public cost of up to $1.1 billion over 20 years.
Essentially, they’re asking what a competent government would have done differently and on that score, there are plenty of answers.
For example, not waste billions of dollars on green energy that wasn’t needed to replace coal-fired electricity, which the Liberals actually replaced with nuclear power and natural gas.
Not give wind and solar power developers outrageously generous, 20-year, no-cut contracts for expensive, unreliable and unneeded power.
Power we have to buy first, before all other forms of energy, making the entire system run less efficiently, meaning we have to sell less expensive forms of conventional energy at a loss to Quebec and the U.S., or pay energy producers not to provide electricity.
Thus, the answer to the Liberal challenge of what the opposition parties would have done is pretty simple.
It starts with not repeating all the disastrous blunders the Liberals made that doubled hydro rates in a decade.
This also explains Wynne having to sell 60% of Hydro One so she can balance the budget next year, an election promise which is meaningless because it does nothing to solve the structural deficit the Liberals have created in the province’s books.
Because that’s what happens when you run out of other people’s money.
Toronto Sun by Sun Staff
March 16th 2017