| July 14 |  |
Editor says, what if a bad idea rejected by the Province of Ontario had been adopted by Canada at a national level? Please note that the opinions expressed in this post do not necessarily reflect the views of the author(s).
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In 2010, as part of a package of austerity measures intended to reverse the unstoppable progress of the giant "debt clock", Canadian Prime Minister Stephen Harper announced on this day that a multi-billion dollar consortium of investors led by the Australian-born businessman Rupert Murdoch had purchased "Supercorp", a merger of the near-bankcrupt nation's electricity, gambling and liquor corporations.
Canadian Debt Clock Ticks AwayThe Scheme had raised a host of accounting issues which had been forceably set aside in favour of expediency as the economy entered the second phase of a double-dip recession. Harper's controversial action had been prompted by the frightening growth of the country's national debt which had reached 500 billion dollars earlier in the year, a ten-fold increase over the last fifty years.
In 1993, the Canadian Taxpayers Federation commissioned the construction of a giant debt clock - 12 feet long by 8-and-a-half feet high - with changeable faceplates for the federal and each provincial government. The clock displayed the per-second increase in debt along with the share for each Canadian family. The clock was toured around the country. The clock went into temporary retirement once the federal government balanced the budget in 1997 and began paying down the federal debt.
In fiscal 2008-09 the debt clock climbed by $183.92 per second, taking federal debt up to $463,700,000,000. After April 1, 2009, the clock, and the federal debt began growing by $1,772.57 per second, which is the equivalent of $106,355 per minute, $6.4-million per hour, or $153-million each day.
Entry posted by Todayinah Editor
© Alternate Historian, 2006-.Story Tags
Permalinks: Post, Day. Browse Thread: Alternate Nations Source: Wikipedia Labels: Supercorp, Rupert Murdoch, Bankrupt, Canada, Australia. Editor says, source article from article "Tories: SuperCorp death a decoy;" published in Toronto Metro Newspaper dated July 13th:
The Ontario Liberals are trying to deflect attention from consumer anger over a slew of new taxes by publicly killing the idea of forming a so-called SuperCorp as a solution to their deficit woes, the Opposition charged yesterday.
Taxpayers are "incensed" about the HST and a surprise eco fee that slipped in under the radar July 1 and the government is trying to dodge criticism, said deputy Progressive Conservative leader Christine Elliott.
"Now that they've run into a lot of flak with the new eco tax, how surprising they're trying to change the channel once again with this announcement."
The SuperCorp scheme - which would have merged Ontario's massive electricity, gambling and liquor corporations then sold a percentage to private investors - should never have been on the table, she added.
"It's just a dumb idea to begin with, to bring such disparate elements together and then try to sell them off in a chunk as a SuperCorp," she said. "It makes absolutely no sense."
The government is reportedly backing off the SuperCorp idea to reduce the province's $21.3-billion deficit because it raised a host of accounting issues and major investors failed to warm to it.
~ "BWA-HA-HA-HA-HA! WE are controlling your electricity! WE are controlling your LIQUOR! Surrender now, puny Canadians, or face a dark, cold, SOBER future!"
~ Am I the only who thinks Murdoch is looking more & more like Mr Burns? Excellent...
© Today in Alternate History, 2013-. All characters appearing in this work are fictitious. Any resemblance to real persons, living or dead, is purely coincidental.
