Quote:
Originally Posted by Phalanx
This editorial in today's Herald sums up what happened with the province's finances. This isn't the right forum for it, so I won't post the full content of the piece, but it's worth a read.
I'm gonna quote the most relevant section, though:
In other words, everything looked good, but the provinces financial house was built on sand.
|
This is an interesting article. However, the Nova Scotia deficit seems tiny (fortunately) compared to the Ontario deficit, Canadian Federal deficit and US deficit (
http://www.thestar.com/news/canada/article/714276--ontario-deficit-billions-more-than-expected ). It seems like the Ontario financial house was built on quick-sand. Unfortunately, this might be a drag on the Nova Scotia economy through lower transfer payments as Ontario increasingly becomes a have-not province.