Ontario debt

Okay, so imagine you borrow some money from a friend and promise to pay them back later. That's like what the government of Ontario does when it needs more money to pay for things like schools, hospitals, roads, and other important stuff.

But sometimes the government borrows more money than it can pay back right away, and that's what we call the Ontario debt. It's like owing your friend a lot of money that you can't pay back right now.

The Ontario debt is like a big number that keeps growing because the government still needs to borrow more money to pay for things. This debt is so big that it's hard to even imagine how much it is. It's like counting to a million, but way bigger than that.

And just like how you have to pay your friend back with interest (extra money that you have to pay in addition to what you borrowed), the Ontario government has to pay back its debt with interest too. This means that the government has to use some of the money it gets from taxes to pay for that interest instead of using that money for important things like schools and hospitals.

So, when we talk about the Ontario debt, we're talking about a really big amount of money that the government borrowed and has to pay back with interest. It's important for the government to make sure it doesn't keep borrowing too much money so it can keep paying for important things without always having to worry about paying back a huge debt.