• CTF Visits Legislature with Alberta Debt Clock

Click here for hi-resolution photos of the visit.

EDMONTON, AB: The Canadian Taxpayers Federation (CTF) visited the provincial legislature today with its 12-foot long Alberta Debt Clock. The Debt Clock shows the size of Alberta’s debt, counting up in real time.

CTF Alberta Director, Derek Fildebrandt spoke in front of the Debt Clock to raise the alarm about Alberta’s return to debt in advance of tomorrow’s budget.

“This is what the end of the Alberta Advantage looks like today,” said Fildebrandt, pointing at the spinning $8.3 billion numerals. “This is what shirking responsibility and tough decisions looks like for governments that have spent far beyond their means and refuse to do something about it.”

Fildebrandt added, “We genuinely hope for a change of heart on the government’s part.”

As the Debt Clock pulled up to the legislature at 10:00 AM, Alberta’s debt stood at $8,362,675,342.47.

Alberta’s debt increases by:

    •    $465,296.80 per hour;
    •    $11,167,123.29 per day; and
    •    $4,076,000,000 per year.

“Premier Redford promised in writing to the CTF that she would balance the budget by the end of this fiscal year (March 31, 2014). She is on track to break that promise by a spectacular margin by running a $3.5 billion consolidated deficit this year, and by planning to take on another $8.3 billion in new debt over the next two years.

Current fiscal projections show that Alberta’s debt is slated to reach $17 billion by the end of fiscal year 2015-16 based on the definition of debt used by the Klein government.

The CTF released a detailed, 67-page balanced budget plan in January titled Rebuilding the Alberta Advantage.
For more details on the CTF’s methodology in calculating Alberta’s debt and deficit, click here: http://www.taxpayer.com/media/State%20of%20Albertas%20Debt.pdf