CALGARY, AB: A report released by the Parliamentary Budget Office yesterday shows Alberta is heading towards a fiscal nightmare.

“Tough decisions need to be made and it’s time for the Alberta government to stop its runaway spending,” said Franco Terrazzano, Alberta Director for the Canadian Taxpayers Federation. “If we keep heading down the same path, Albertans will owe hundreds of billions of dollars in government debt. We can’t keep kicking the bill to future generations.”

The report projects Alberta’s government debt to exceed $100 billion by 2021 and $1 trillion by 2051. The average Albertan already owes more than $10,000 in provincial debt.

“It’s one thing for a government to say it's going to tighten its belt, it’s another thing to make tough decisions and cut spending,” said Terrazzano. “The government talks about tightening its belt and yet is considering spending money to host the Olympics. The Olympics should not be a priority, especially in light of these numbers.”

Spending has been a bi-partisan problem in Alberta for years. Between 2004 and 2015, the Alberta government’s program spending increased by nearly 100 per cent, roughly double the combined rates of inflation plus population growth. Alberta’s current government has continued to make matters worse by failing to get spending under control.

Alberta spends $3,175 per person more than the average per person spending in BC, Ontario and Quebec. If Alberta could even cut that number in half, it would save $6.6 billion.

“Spending needs to be cut, prioritization needs to happen and fat needs to be trimmed,” said Terrazzano. “The Canadian Taxpayers Federation is calling on the Alberta government to avoid a fiscal nightmare by getting spending under control.”