You might want to characterize the Ontario budget as short-term gain for long-term pain.
The gain is for Premier Kathleen Wynne — the government's spending plan might just win the support of the NDP, and thereby keep the Liberal minority alive for a few more months.
[ Related: Ontario Liberals release NDP-friendly budget, but will Andrea Horwath take the bait? ]
The pain is for all Ontarians.
Canada's most populated province is in dire financial straits.
While the Liberals say they intend to balance the books by 2017-18, Thursday's budget increases government spending by 3 per cent, increases the deficit by about $2 billion and will increase the province's debt to over $270 billion.
In a 2012 report commissioned by the Liberals, former TD Bank chief economist Don Drummond made 362 recommendations to balance the books by 2017-18. Drummond cautioned against dawdling and recommended that the government limit spending increases to 0.8 per cent per year.
As explained by the Fraser Institute's
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