The Canadian Taxpayers Federation (CTF) brought its 2018 Alberta Debt Clock tour to the provincial capital today as part of its efforts to draw attention to the government’s exploding debt. Alberta’s debt is currently increasing by over $344 per second and the Notley government is on track to quadruple the debt in a single term.

The CTF launched its provincial Debt Clock tour on July 5 in Calgary and has taken the large digital Debt Clock to a dozen communities around the province. Other stops to date have included: Lethbridge, Fort Macleod, Vulcan, Medicine Hat, Brooks, Cochrane, Canmore, Red Deer, Ponoka, Leduc, and Camrose.

“Premier Notley has Alberta heading straight towards $96 billion in debt,” said CTF Alberta Director Colin Craig. “While the Alberta government blames its debt woes on low oil prices, the reality is the government has a spending problem. Provinces like British Columbia are providing the same services for a fraction of the cost.”

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 over $10,500 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

“The government is depending on another oil boom to get its debt under control,” added Craig. “That’s like depending on winning the lottery to pay for your retirement plans. It’s reckless.”