Derek Fildebrandt, Alberta Director, Canadian Taxpayers Federation (CTF) posing with the Alberta Debt Clock on Friday during its tour to Westlock Friday. – Lucie Roy photo
by Lucie Roy
Westlock – The Canadian Taxpayers Federation’s (CTF) Debt Clock made a stop in Westlock Friday. The tour that started Monday, July 14 ended Saturday, July 19 after the Debt Clock ticked away as it travelled more than 2,730 kimlometres through 25 communities, including St. Albert, Spruce Grove, Leduc, Fort Saskatchewan and Lacombe.
The CTF hauled their 12-foot-long Debt Clock to raise awareness and to to get politicians to take a firm stand to bring in a debt replacement plan, as well as get MLAs and people to sign the pledge.
Fildebrandt said Alberta’s debt moved past the $10 billion mark on July 10 and that the province’s debt is projected to reach $21 billion by 2016-17, an amount that will consume $1.4 billion per year in interest payments.
Fildebrandt said July 12 marked the 10th anniversary of Ralph Klein standing on the steps of the McDougall Centre in Calgary hoisting a sign over his head that read Alberta’s debt was Paid in Full.
By contrast, he said Alberta’s current debt is increasing by $150.37 per second, $9,022.07 per minute, $541,324.20 per hour, $12,991,780.82 per day and $4.7 in the current fiscal year.
I have a quick, and what should be simple, question. Who do we owe the money too? If the province owes money to Albertans or Alberta companies, then it’s not really a debt at all and the “debt per person” is a meaningless statistic. But if not, then it’s a real debt – but is it just a debt owing to Canadians (still relatively less of a “big deal”), or a debt owed internationally, in which case it’s definitely something worth being concerned about.
Ralph let Alberta fall apart doing it