California's debt half of Ontario's

The Ontario Legislature. (Toronto Sun files)

The Ontario Legislature. (Toronto Sun files)

Maryam Shah, QMI Agency

, Last Updated: 9:35 PM ET

TORONTO -- Ontario's debt is nearly double that of California's -- even though the province has far fewer people and a much smaller economy, the Fraser Institute says.

The right-wing public policy think-tank will release a report Tuesday that compares Ontario's debt burden to California's.

"The study -- Ontario vs. California Debt Burdens -- notes that Ontario, with a fraction of California's population and a significantly smaller economy, carries a debt load almost twice as large as the Golden State," said a news release Monday.

The Institute compared the bonded debt for both jurisdictions in its report. Ontario's bonded debt stands at $267 billion, while California's stands at $144 billion.

California has a population of more than 38 million while about 13.5 million people live in Ontario.


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