Bear in mind, Toronto needs $344 million to balance its budget this year. Bear in mind that a balanced Toronto budget still leaves a massive backlog of broken roads and bridges, reduced services, rising debt. Bear in mind the goal isn't to build a shining city by the lake. The goal is mere survival.

Based on throne speech promises, immediately, the federal government stops collecting GST from cities. That's about $52 million a year for Toronto. But only half can be used to help this year's operating budget shortfall. (The GST rebate is effective Feb. 1, not Jan. 1; also, some $3 million must go to the city's water division; and about $19 million belongs to the capital budget).

Accelerating delivery of the $2 billion infrastructure fund is not designed to help the operating budget. And it will have little effect where it is intended to help unless the government finds a way to funnel most of the cash to Toronto and the TTC, and soon.