Fiscal Crisis Caused by Toronto's Incumbent Councillors Chronic Spending Habits, Peter Clarke
In the last ten years alone establishment incumbent councillors have INCREASED SPENDING by 60%, yet at the same time INFLATION increased ONLY 23%, which is an outrageous increase of 260% over the cost of inflation for the same time frame.
Aug. 7, 2010 - PRLog -- Incumbent councillors have continually failed the voters of Toronto North York and elsewhere for the past 10 to 20 years.
As taxpayers we cannot afford to reelect them or remortgage our homes or business to pay for their outrageous Spending, Borrowing and Taxing policies for arrogant, unsustainable salaries, benefits, pensions and perks the costs of which will have to be passed onto our children and their generation.
In the last ten years alone establishment incumbent councillors have INCREASED SPENDING by 60%, yet at the same time INFLATION increased ONLY 23%, which is an outrageous increase of 260% over the cost of inflation for the same time frame.
Incumbent Councillors SPENT $4,999,236 MILLION dollars or $113,519 per councillor for their self given Golden Severance Package upon their defeat at the polls.
This severance package is twice the legal requirement for Ontario workers and just one example of their arrogance and self serving greed.
Incumbent councillors borrowed $436 MILLION for a grant of $240 MILLION and remortgaged the city’s debt from 10 years of interest payments to 35 years based on the logic that interest rates have never been this low yet another prime example of failed policies.
The councils restructuring of tax payer’s debts “to match assets to funding in a much better way helped us deal with that pressure by smoothing out the financing costs” stated the outgoing Mayor.
Now we hear from Weldon, one of Toronto’s supposedly top bureaucrats that “we will require monetization of city assets“ but he failed to offer any other means and ways of rectifying this spending problem by incumbent councilors and the outgoing Mayor.
This policy is what the outgoing Mayor and his supportive lefts leaning incumbent councillors refer to as “good balance" between the tax increases and investing in services.
Monetization policies are the same as putting a mortgage on a mortgage free rental property and hopefully paying back the mortgage with future rents and rent increases or in other words eating your lunch today but not paying for it until a few years from today at inflated costs.
Just total BS from both the outgoing mayor and his top bureaucrats and hopefully come October 25 voters will turn out in record numbers to ensure that these establishment incumbent councillors will NOT be reelected again for having continually supported such failed fiscal policies.
Further this year incumbent councillors handed out another untendered and non competitive contract, which will cost the taxpayers $1 MILLION $600 HUNDRED THOUSAND DOLLARS by extending a food, drink monopoly located on our eastern beaches.
“Fiscal Crisis or not Incumbent Councillors continue to Propose NO Tendering, Rent Reductions and Monopoly for Friends of the Family in an immoral, unethical and most likely illegal non competitive tendering process" in CLARKES opinion.
Further their SPENDING six hundred thousand dollars $600,000 of taxpayer’s hard earned income as a Guarantor to gain votes or support from Toronto Cyclists Union to bank roll a private corporation is NOT being fiscally responsible at any time.
Already overburdened taxpayers, be they renters, condo or homeowners and businesses, do not want new taxes in the form of road tolls as a new hidden tax disguised as toll tax for the Don Valley and Gardner.
That would amount to a $50.00 tax per week or $2,600.00 new tax per year taken directly out of employees salaries and in addition to existing gas taxes etc.
Nor did voters and prospective condo buyers want incumbent councillors INCREASE the cost of buying a new condo home by $1,308.00 per unit when they forced home builders to pay for annual metro passes for each newly constructed Toronto condo unit in 2010.
Our Toronto hydro’s outright deceptive conduct when they voted to deceitfully increase electricity prices so it could hand over fat payments to cash hungry and fiscally inept Incumbent Councillors is another arrogant policy which the people are finally beginning to see the truth about.
In CLARKE'S opinion incumbent councillors and Toronto hydro board members neglected their legal individual fiduciary responsibilities and duties to voters and Toronto hydro customers when they diverted funds needed by the utility for its system reliability by deceitfully increasing unwarranted dividend payments to the city of Toronto, as recently ruled by Ontario's Court of Appeal.
"These actions by Toronto Hydro’s Board of directors supported by incumbent councillors of diverting funds from the needs of maintaining the utilities system reliability of aging wires and equipment was in my opinion NOT upholding their fiduciary duties,“ Peter CLARKE points out.
Incumbent councillors feel good measures for cradle-to-grave subsidies and more taxpayer money for sporting clubs, community centers, and the never ending and always increasing outreach programs will never get at the root of their out of control chronic spending habits of the past ten to twenty five years.
Peter CLARKE is of the opinion that we must introduce Openness, Accountability and Responsibilities into the system and watch people not have as much time on their hands to protest, riot, strike and demand for others to look after them through unsustainable taxpayer handouts.
CLARKE an independent is NOT an establishment career politician or supporter of one political party, special interest group or lobbyist. PETER is your average citizen candidate who once elected would be answerable only to the people NOT special interest groups, political parties or lobbyists.
Peter CLARKE with the enthusiasm, energy of passion for change and determination together with the common sense of the people, has a very detailed campaign mission platform of 10 plus for 2010 which is outlined on his web site @ http://torontopolitics2010.blogspot.com/
“Toronto One City, Your Vote, Our Future Together, Begins on October 25, 2010 with your support throughout the North York Community.”
# # #
CLARKE an INDEPENDENT NOT a CAREER Politician or supporter of any political party, special interest group or lobbyists. PETER is your average citizen candidate and answerable only to the people NOT a political party, special interest group or lobbyist
As taxpayers we cannot afford to reelect them or remortgage our homes or business to pay for their outrageous Spending, Borrowing and Taxing policies for arrogant, unsustainable salaries, benefits, pensions and perks the costs of which will have to be passed onto our children and their generation.
In the last ten years alone establishment incumbent councillors have INCREASED SPENDING by 60%, yet at the same time INFLATION increased ONLY 23%, which is an outrageous increase of 260% over the cost of inflation for the same time frame.
Incumbent Councillors SPENT $4,999,236 MILLION dollars or $113,519 per councillor for their self given Golden Severance Package upon their defeat at the polls.
This severance package is twice the legal requirement for Ontario workers and just one example of their arrogance and self serving greed.
Incumbent councillors borrowed $436 MILLION for a grant of $240 MILLION and remortgaged the city’s debt from 10 years of interest payments to 35 years based on the logic that interest rates have never been this low yet another prime example of failed policies.
The councils restructuring of tax payer’s debts “to match assets to funding in a much better way helped us deal with that pressure by smoothing out the financing costs” stated the outgoing Mayor.
Now we hear from Weldon, one of Toronto’s supposedly top bureaucrats that “we will require monetization of city assets“ but he failed to offer any other means and ways of rectifying this spending problem by incumbent councilors and the outgoing Mayor.
This policy is what the outgoing Mayor and his supportive lefts leaning incumbent councillors refer to as “good balance" between the tax increases and investing in services.
Monetization policies are the same as putting a mortgage on a mortgage free rental property and hopefully paying back the mortgage with future rents and rent increases or in other words eating your lunch today but not paying for it until a few years from today at inflated costs.
Just total BS from both the outgoing mayor and his top bureaucrats and hopefully come October 25 voters will turn out in record numbers to ensure that these establishment incumbent councillors will NOT be reelected again for having continually supported such failed fiscal policies.
Further this year incumbent councillors handed out another untendered and non competitive contract, which will cost the taxpayers $1 MILLION $600 HUNDRED THOUSAND DOLLARS by extending a food, drink monopoly located on our eastern beaches.
“Fiscal Crisis or not Incumbent Councillors continue to Propose NO Tendering, Rent Reductions and Monopoly for Friends of the Family in an immoral, unethical and most likely illegal non competitive tendering process" in CLARKES opinion.
Further their SPENDING six hundred thousand dollars $600,000 of taxpayer’s hard earned income as a Guarantor to gain votes or support from Toronto Cyclists Union to bank roll a private corporation is NOT being fiscally responsible at any time.
Already overburdened taxpayers, be they renters, condo or homeowners and businesses, do not want new taxes in the form of road tolls as a new hidden tax disguised as toll tax for the Don Valley and Gardner.
That would amount to a $50.00 tax per week or $2,600.00 new tax per year taken directly out of employees salaries and in addition to existing gas taxes etc.
Nor did voters and prospective condo buyers want incumbent councillors INCREASE the cost of buying a new condo home by $1,308.00 per unit when they forced home builders to pay for annual metro passes for each newly constructed Toronto condo unit in 2010.
Our Toronto hydro’s outright deceptive conduct when they voted to deceitfully increase electricity prices so it could hand over fat payments to cash hungry and fiscally inept Incumbent Councillors is another arrogant policy which the people are finally beginning to see the truth about.
In CLARKE'S opinion incumbent councillors and Toronto hydro board members neglected their legal individual fiduciary responsibilities and duties to voters and Toronto hydro customers when they diverted funds needed by the utility for its system reliability by deceitfully increasing unwarranted dividend payments to the city of Toronto, as recently ruled by Ontario's Court of Appeal.
"These actions by Toronto Hydro’s Board of directors supported by incumbent councillors of diverting funds from the needs of maintaining the utilities system reliability of aging wires and equipment was in my opinion NOT upholding their fiduciary duties,“ Peter CLARKE points out.
Incumbent councillors feel good measures for cradle-to-grave subsidies and more taxpayer money for sporting clubs, community centers, and the never ending and always increasing outreach programs will never get at the root of their out of control chronic spending habits of the past ten to twenty five years.
Peter CLARKE is of the opinion that we must introduce Openness, Accountability and Responsibilities into the system and watch people not have as much time on their hands to protest, riot, strike and demand for others to look after them through unsustainable taxpayer handouts.
CLARKE an independent is NOT an establishment career politician or supporter of one political party, special interest group or lobbyist. PETER is your average citizen candidate who once elected would be answerable only to the people NOT special interest groups, political parties or lobbyists.
Peter CLARKE with the enthusiasm, energy of passion for change and determination together with the common sense of the people, has a very detailed campaign mission platform of 10 plus for 2010 which is outlined on his web site @ http://torontopolitics2010.blogspot.com/
“Toronto One City, Your Vote, Our Future Together, Begins on October 25, 2010 with your support throughout the North York Community.”
# # #
CLARKE an INDEPENDENT NOT a CAREER Politician or supporter of any political party, special interest group or lobbyists. PETER is your average citizen candidate and answerable only to the people NOT a political party, special interest group or lobbyist
End
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Page Updated Last on: Sep 15, 2010