Ontario Premier Doug Ford's promise to end excessive spending with taxpayer money is under scrutiny following the release of the province's latest budget update. The update reveals that the Ontario government plans to borrow $14.6 billion this year, more than double last year's $6 billion deficit. This increase contributes to a projected provincial debt of $461 billion by the end of the year.

The implications of this borrowing are significant. A newborn in Ontario is now automatically burdened with nearly $30,000 in provincial debt. The Ford administration's ongoing borrowing practices are raising concerns among taxpayers, as the government is expected to spend $16.2 billion on interest charges this year. This amounts to approximately $1.35 billion each month that could otherwise be allocated to essential services such as healthcare, infrastructure repairs, and tax reductions.

Finance Minister Peter Bethlenfalvy had previously projected a $2.2 billion surplus for 2024 and an $8.4 billion surplus for this year. However, the reality of multibillion-dollar deficits continues to unfold, raising questions about fiscal management. Bethlenfalvy argues that the government is fulfilling its mandate to "protect Ontario" by increasing spending to counteract the impact of American tariffs. Critics, however, point out that this approach overlooks the detrimental effects of rising debt on the province's economy.

Historical parallels are drawn to the 1990s when former NDP Premier Bob Rae's spending policies led to a near tripling of Ontario's debt. His successor, Mike Harris, was forced to implement stringent measures to curb spending. Ford, who once criticized the previous Liberal government's unsustainable spending, now appears to be following a similar path, with annual spending increases comparable to those of former Liberal Premier Kathleen Wynne.

To address the growing debt crisis, some experts suggest that the Ford government should consider significant budget cuts. Ending corporate welfare, which has averaged $9.1 billion annually since 2018, could be a starting point. Ford previously stated during the 2018 election that he would lower business taxes for all instead of favoring specific companies.

Additionally, eliminating political welfare could save taxpayers millions. After the recent election, the Progressive Conservatives are expected to receive nearly $5.5 million from per-vote subsidies, while the NDP and Liberals will receive $2.4 million and $3.8 million, respectively.

To achieve a balanced budget, Ford could revert spending to last year's levels, potentially saving taxpayers $4.9 billion. By cutting corporate and political welfare, the government could take significant steps toward fiscal responsibility. As the situation stands, many are calling for Ford to reassess his spending strategies and prioritize the financial well-being of Ontarians.