The Notley NDP released their latest budget this week and it's bad. Real bad.
Alberta is currently $54 billion in debt, paying nearly $2 billion annually to bankers and lenders in debt servicing costs.
By 2021, Alberta will be $77 billion in the hole, paying nearly $3 billion per year to service the debt.
By 2023, Alberta's debt will balloon to nearly $100 billion, and we’ll be paying nearly $5 billion per year to bankers and lenders to service the debt with nothing to show for it in return.
This level of reckless spending and burdening future generations with irresponsible behaviour today, is immoral.
But the way Rachel Notley plans to pay for it all is downright crazy.
The NDP Finance Minister admits that the only way to bring Alberta's finances under control is to cheer on the federal government while they tax us more.
The NDP are either out of ideas or they're not even trying anymore.
1. Become hostile to the income generating businesses (oil and gas) and drive them out of the province.
2. Increase taxes in every possible way on a diminishing population to pay for every socialist program and green scheme you can think of.
3. Borrow money to pay for those socialist schemes because (we, the NDP, cannot figure out why the tax revenue is down!!)
4. Bribe the unions with lucrative contracts with the borrowed money so you can get voted into office again
5. Blame the Conservatives for the financial collapse of the province and demonize the Conservatives in every possible way. (Don’t worry, the NDP think to themselves, the media will lie and cover for us because they hate Conservatives as much as we do! Heck, the media ARE wannabe Communists just like us.)
But especially a Carbon tax. This idea will definitely cause a lowering of Alberta’s credit score. Wait for it.
And now as predicted from day one, Albertans also learned that eventually the carbon tax will become part of general revenue.
This is not good.
A hundred billion in debt. That points to massive trouble.
There will be no magic bullet to solve the situation which the Notley government has steered Alberta. And that is just economically speaking. Try Education on for size? And who is talking health care anymore, the elephant in the classroom?
Notley and ALL her caucus members must be fired come 2019 other wise there is no hope in hell for Alberta. After Rae, McGuinty and Wynne, Ontario is at 319B in debt and counting. Notley’s superb methods are projected to hit 100B after less than 3 years.
It’s just a Tax stupid, and will not fix the non-problem called “climate-change”.
But it will fix “pocket-change” because you won’t have any left.