The Canadian Taxpayers Federation (CTF) launched its 2018 Alberta Debt Clock tour today in Calgary. Over the next two weeks the CTF will be taking its large Debt Clock to over 20 communities across the province to educate Albertans about the province’s woeful finances.

“We kicked off our 2018 Debt Clock tour in front of Olympic Park for the simple reason that the provincial government has no money to pay for hosting the Olympics,” said CTF Alberta Director Colin Craig. “Alberta’s debt is already going up by over $1.2 million every single hour. We can’t afford paying billions for the Olympics and the guaranteed cost overruns that come with it.”

Some facts about Alberta’s debt, include:

• As of March 31, 2015, Alberta’s debt stood at $11.9 billion (just before the last election)
• As of March 31, 2018 Alberta’s debt was $42.4 billion
• As of March 31, 2019 Alberta’s debt is expected to hit $53.3 billion
• Alberta’s debt is going up $344 per second or $1,243,498 per hour
• Alberta’s debt is increasing faster than any other province in Canada and currently works out to about $10,435 per Albertan
• Without factoring in the cost of the Olympics, the Notley government has the province on track for $96 billion in debt by 2023.

Over the next two weeks, the CTF will be taking its debt clock to Edmonton, Grande Prairie, Red Deer, Medicine Hat, Lethbridge and many other communities across Alberta. The CTF’s goal is to educate as many Albertans as possible about the government’s ballooning debt.

“Powerful government employee unions have been fear mongering about cutting back on spending,” added Craig. “The fact is the Alberta government is extremely bloated. If Alberta merely got its spending down to the same levels as B.C., there wouldn’t be a need to increase our debt. It’s time to start cutting the fat.”

The CTF has invited Premier Notley, Jason Kenney and Stephen Mandel to take their photo with the debt clock and discuss their balanced budget commitment. Those who support a balanced budget are encouraged to sign the CTF's petition at Taxpayer.com/alberta.