When the last thing Alberta needs is increased spending and borrowing after four major credit downgrades, the NDP have borrowed another $14 billion.
On June 10th, two orders under the Financial Administration Act were approved by the government. One was for $3.5 billion and the other for $10.5 billion to cover new government spending. And right on time, the Canadian Taxpayers Federation was here in Calgary touring with the debt clock.
I caught up with Alberta Director Paige MacPherson to chat about debt levels in the province. She compared the NDP’s borrowing to overspending on a family card – except families usually have a plan to pay their debt off, while it seems the NDP don’t.
This $14 billion loan is the biggest in Alberta’s history and it doesn’t seem to phase the NDP as they continue to drive the province into record levels of debt. I also talked to Paige about some of the measures that could be taken to limit the debt load. She says that balancing the budget is the key, so that repaying it is within reach. She also mentions that cutting public sector salaries is the place to start to curb wasteful spending.
Currently, public sector salaries in Alberta are much higher than the national average and the NDP have increased public sector jobs. Overspending on public salaries is one of the main contributors to budgets in the red.
The government needs to be held to account for wasteful spending. Derek Fildebrandt, former Alberta Director for the CTF and now Wildrose MLA and Finance Critic for Strathmore-Brooks, was also there at the debt clock stop. I asked him what the Wildrose Party is prepared to do about the NDP’s out of control borrowing and spending. He says that Wildrose will continue to hold the NDP’s feet to the fire and will hammer out a plan to get Alberta’s spending back on track for the next election.
The NDP are like out of control teenagers with an all access pass to their parents’ credit cards. Even though what Albertans need the most is for them to cut spending wherever they can, they continue to borrow. The province is now over $21 billion in debt – that means every man, woman and child owes about $22,000 each.
Those numbers are staggering and it looks like there is no end in sight for NDP spending.