Debt-Free Alberta Not Ralph's Legacy

Posted on Tuesday, July 20 at 08:11 by KevinGagnon

There he was this week, on front pages and television screens across the country, flipping Stampede pancakes and waving a sign that declared Alberta's once-humongous provincial debt "Paid In Full."

That won't actually happen until next spring, at the earliest, but Albertans are likely heading to the polls this fall and there's no point in letting a few facts get in the way of a positive story.

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  1. by hoopoe
    Tue Jul 20, 2004 4:14 pm
    Actually, one letter writer to the Calgary Herald made a valid comment. To paraphrase, he said that our claim to debt-free status is bogus because our obligation to pay interest on this debt is still there until the repayment schedule of any debt we took out is fulfilled (barring substantial penalties). In other words, what they have done is to create yet another bank account in addition to the our supposed rainy day Heritage Trust fund and another one just recently (can't remember the exact name but it has something to do with funding capital projects). Given the Alberta Government's bad investment record with the Heritage Trust Fund, I don't have much confidence that this new fund will cover the above interest payments, so Albertans don't look anytime soon for relief of Klein's stinginess (except of course just before the coming election) as this money won't actually be there for years to come.

    What Klein also doesn't mention in his manipulation of the media is that his policies have left the City of Calgary over $1 billion dollars in debt and more to come to fund a 10-year backlog of transportation infrastructure. This is not to mention all of the social deficits he has left in his wake, such as blowing up or selling off perfectly good hospitals (done to create an artificial shortage of operating room time to create line-ups, thus justifying his privatization plans).

  2. Wed Jul 21, 2004 7:04 am
    We'll never find out exactly where our money went until we get a new party to govern. Everytime questions are raised about spending and programs we are told it is handled. I want to know why the money for the BSE which was our tax dollars did not reach those who needed it. This is a critical situation and being secretive is not helping to address the issue. The farmers are hurting badly, many will lose the entire farm because of this mismanagement of money and mishandling of the entire affair! I want answers and I don't think we will get them from the pc's, we haven't so far. The leader of the NDP tried to get them to reveal the details, but of course since the pc's have the majority the motion was turned down. No Surprise!

    ---
    If I stand for my country today...will my country be here to stand for me tomorrow?



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