Alberta expects to post a $4.7-billion deficit this year – the largest in provincial history – as the former darling of the Canadian economy sinks into the red over four consecutive years. The resource-rich province has been brought to its knees by collapsing energy prices, a slumping stock market and declining corporate investment.
Read the rest at the Globe and Mail
Reminds me of something an Albertan once told me : “Any monkey can balance the budget at $100 / barrel, that doesn’t mean we have the right ape at the wheel.”
Alberta has relied on oil to grease the wheels of government programs for years effectively giving the people a pass on their taxes. Will reality set in? Will Albertans be willing to give up a meaningful level of their actual income to fund all those big social programs implemented by “conservatives.”