Nooooo money…

In The Star today it announced that the taxpayers could be on the hook for over $130 milion for “Project Symphony”.

So, what did you expect? That is why government should stay out of the development business – there is a risk. In addition, what is more criminal than Diamond, the co-chair of Miller’s last campaign, being allowed to push his plan through without a tendering process for the design of the building that will be on future Toronto post cards.

But then, the way Miller is not letting off on the gas with his spending and further pushing the province with the litigious threats, I am questioning if this building will ever be started, never mind completed.

Adding to the misery will be the eventuality of Tory being elected as the next premier. This is a certainty because the electorate will never forgive McGuinty’s 2 pay raises for M.P.P.s in a single year. So you can rule out any help from the province.

In addition,we have a prime minsiter that did not sign on to TWRC and should feel little obligation to Toronto considering that it paints itself red after every federal election. So, in fact, Miller’s mismangement could destablize the entire tri-lateral agreemment in place for the TWRC.

As my rearch into municipal bankruptcy continues, I have a feeling that the city will be unable to raise the necessary money for Project Symphony. I question if the bond rating that the city has on its web page is currently accurate, and further, I question if Toronto will be forced to suspend issuing any bonds to raise money at all in the very near future.

If I worked for the city and did not have much seniority, I would get my resume out because cuts to services will follow.

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