Before the NDP were accidentally voted in as a majority government in Alberta in 2015, the province had zero, yes zero, net debt. But as soon as the NDP took power, budget deficits have continued to accumulate from 6.4 billion in the 2015/2016 fiscal year to 10.8 billion in 2016/2017 and finally to $10.3 billion in 2017/2018 to total $27.6 billion in the first three years in power and that’s just what’s projected.
According to a report from the Fraser Institute, Alberta has larger financial debts than Ontario did when that province was faced with the economic crisis of 2008. And take this into consideration – there are 9.5 million more people in Ontario. In just a few short years, 40% of the debt gap between Alberta and Ontario will be gone.
Standard and Poor’s have downgraded Alberta’s credit rating yet again from AA to A+, so that’s another 2 points down from last time. The credit rating agency says that the escalating debt that the NDP are accumulating is to blame and that they either need to cut spending by $3.5 billion, or increase taxes. The government says they will do neither, even though it would be easy to make some cuts to their out of control spending.
Albertans pay over $5000 each for a poorly functioning healthcare system that accounts for almost half of our budget, the NDP have been forming meaningless and expensive panels stacked with activists like Karen Mahon and Tzeporah Berman to make decisions on the oil and gas industry that could easily be dissolved and they brought in what they call a “free” program to install lightbulbs for millions of taxpayer dollars.
The NDP could easily curb their spending, but they won’t – Joe Ceci said it himself. Actually, they’re ramping up the spending on all the extras. It’s almost like they have no idea how to be responsible with money, but what can we expect from a caucus of Starbucks barristas and kids that have never really had to sit down and worry about how to make ends meet like the rest of Albertans suffering out there?