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Wednesday, March 26, 2008
Back "in the day," 25 or so years ago, I tended towards the drink a bit. Not a house drinker either, a barfly. One night a buddy and I were at the Cannonball in Bramalea (is it still there?) and we got sitting with this guy who had, literally, just sold the farm. He was sitting with (if I remember correct) $80,000 in his pocket and was on what you might modestly call a bender.
He decided to include us in his good time and the drinks were soon coming almost faster than we could drink them (almost). We did a thing were we would come up with a drink we had never had, and suddenly we were drinking three of them. I recall a few white Russians and black Russians, but truly little else. I have no doubt that guy woke up a few weeks, or months later with no farm, no money and one hell of a headache.
I thought of that guy today while reading about the Ontario budget delivered Tuesday by Dwight Duncan. Dalton McGuinty's Liberals have decided to spend any surplus they find. In Tuesday's budget that was an extra $5B they "found" and will promptly spend. As Terence Corcoran put it:
If the province had collected an extra $10-billion this year instead of $5-billion, it would have spent it.
He's dead right, and that's exactly what they said, if we have it, we spend it. $5B, $10B, $20B. It's really the same spending approach as the guy who sold the farm at the Cannonball: he hadn't budgeted on the money, thus it was found money, "hey lets go on a bender." At the end of the day he had nothing to show for the sold farm, but boy, what a hangover.
It makes you wonder: what kind of hangover are Ontario taxpayers going to wake up with when Dalton and Dwight have finished spending our found money?
