Alberta has an $3 billion deficit!

[Boges]

How the bleep does that happen? Isn't Alberta an oil rich province run by Conservatives?

I guess since they spend so much more than everyone other province per capita, it should be easy to cut eh?

Edited January 26, 2013 by Boges

[Signals.Cpl]

How the bleep does that happen? Isn't Alberta an oil rich province run by Conservatives?

I guess since they spend so much more than everyone other province per capita, it should be easy to cut eh?

Im sorry but where is the $8 billion deficit? The highest I saw was 3 billion.

[Boges]

Saw it on TV. But I guess you're right. It's currently only 3 which is bad enough but then there's this.

www.nationalpost.com/m/wp/news/canada/canadian-politics/blog.html?b=news.nationalpost.com/2013/01/24/bitumen-bubble-redford-warns-of-austere-times-to-come-amid-soaring-alberta-deficits

She said the bubble — the difference between the benchmark price for oil in North America versus Alberta’s oilsands bitumen — has grown so wide

“The Alberta government will collect about $6-billion less in revenue, this year alone. To put that in context, that’s equivalent to all of our government’s spending on education this year,” Ms. Redford said.

So without serious cuts that number could balloon fast.

Edited January 25, 2013 by Boges

[Guest]

We should be okay when all the other provinces start sending us money.

[guyser]

We should be okay when all the other provinces start sending us money.

You dont send any to other provinces.....why would you think it does in reverse?

[MiddleClassCentrist]

How the bleep does that happen? Isn't Alberta an oil rich province run by Conservatives?

I guess since they spend so much more than everyone other province per capita, it should be easy to cut eh?

Too many corporate kick backs... tax breaks... Alberta will eventually be a toxic pockmark in Canada from allowing oil corps to rape and pillage. They'll be left with nothing. That's thinking into the future of future generations though, not something capitalism gives a crap about.

Or... maybe it's because their politicians claim to be more fiscally conservative than they really are...

Edited January 26, 2013 by MiddleClassCentrist

[Argus]

Albert doesn't have a conservative government. It has a PC government along the likes of the Joe Clark federal tories. I.e., a party with no social conservative views or policies, and no fiscal conservative views or policies which nonetheless, insists on calling itself "Progressive Conservatives".

Another word for a Progressive Conservative is - liberal.

[Guest]

You dont send any to other provinces.....why would you think it does in reverse?

Aren't we a have not province now? Cough up!

[TheNewTeddy]

2 things

1 - You can edit the title to be accurate

2 - There is a deficit because the province depends on energy prices and royalties for it's surpluses

[MiddleClassCentrist]

Aren't we a have not province now? Cough up!

Albertans and their silly ideas about equalization. They even seem to think that Ontario takes more out of the national coffers than it puts in.

[Boges]

2 things

1 - You can edit the title to be accurate

2 - There is a deficit because the province depends on energy prices and royalties for it's surpluses

Interesting that it's OK for Alberta to bitch about the price of oil but when Ontario bitches about having a petrol dollar, they're just whiners.

I do think Alberta has a spending problem that should be addressed.

[Guest]

Albertans and their silly ideas about equalization. They even seem to think that Ontario takes more out of the national coffers than it puts in.

MLW posters and their inability to get a joke...

[Boges]

MLW posters and their inability to get a joke...

I thought it was funny.

[Argus]

Interesting that it's OK for Alberta to bitch about the price of oil but when Ontario bitches about having a petrol dollar, they're just whiners.

I do think Alberta has a spending problem that should be addressed.

You're right, and wrong. Alberta's budgetary problems are because of an incompetent, spendthrift government. However, Alberta has every right to bitch about the price its getting for it's oil. That price is currently almost half the world price because of a lack of pipelines to export it.

[Shady]

You're right, and wrong. Alberta's budgetary problems are because of an incompetent, spendthrift government. However, Alberta has every right to bitch about the price its getting for it's oil. That price is currently almost half the world price because of a lack of pipelines to export it.

Maybe they just need to raise taxes.

[punked]

Maybe they just need to raise taxes.

If they want to keep their programs. Although Alberta has such rich programs they can probably cut some of those to. Although with the S&P up, and America slowly coming back, as well as Nebraska approving the new Key stone route, I bet they just need to wait a year or two and their budget will balance itself. They have room to take on some debt.

[Argus]

If they want to keep their programs. Although Alberta has such rich programs they can probably cut some of those to. Although with the S&P up, and America slowly coming back, as well as Nebraska approving the new Key stone route, I bet they just need to wait a year or two and their budget will balance itself. They have room to take on some debt.

The keystone route won't be of use for years, presuming it will be approved. And it might not be. That leaves the western route, except for the hostile natives, so then what?

[Shady]

The keystone route won't be of use for years, presuming it will be approved. And it might not be. That leaves the western route, except for the hostile natives, so then what?

You're right. In the opposite mould of Harper, Obama may not approve it.

[punked]

You're right. In the opposite mould of Harper, Obama may not approve it.

When he does I expect a post from you praising the decision.

[Guest]

You're right. In the opposite mould of Harper, Obama may not approve it.

If he doesn't, the next President will. It's not like they aren't going to use the oil eventually.

[Guest]

I thought it was funny.

Thanks. I should have said "some posters".

[ReeferMadness]

I grew up in Alberta. When I think of the way the Province has given its wealth away to oil companies, it makes me want to cry. Norway embarked on a strategy of extracting the greatest public wealth for its oil. It has a sovereign wealth fund of well over $600 billion (projected to exceed $1 trillion by 2019). Alberta, with roughly the same population, has squat in comparison. Production of the most valuable commodity, light crude, peaked years ago and they are reduced to producing some of the dirtiest, nastiest sludge on earth. In 50 years, after the oil companies have turned the northeastern part of the province into one big environmental nightmare, they'll leave and Alberta will return to the poverty from which it came. Hey, at least Albertans will be able to regale each other with stories about when that wacky buffoon Klein was premier.

Good luck with that.

[Accountability Now]

A few things on this:

1. Alberta is the only province without a sales tax. If a 5% tax were introduced then the defict would be replaced with a surplus within a year. The tax may be a long term solution but the current deficit is more the result of poor short term budgeting. They spent a bunch of money thinking more was coming in. If the current situation stays then they will indeed need to get their spending in check.

2. Redford recently posted the idea of a west to east pipeline to have Alberta oil refined in New Brunswick. Of all the pipelines, I like this one the most as it keeps the oil in Canada allowing for more jobs in the east and hopefully better prices at the pumps for all Canadians. If Alberta is selling oil on the cheap, then its best that Canda gets the break. I'm not saying we can't have the Keystone or Gateway lines as well but its troubling to think that we are still importing oil at world market rates.

3. Why are there so many women premiers now? Holy crap! (Just kidding)

[Signals.Cpl]

A few things on this:

1. Alberta is the only province without a sales tax. If a 5% tax were introduced then the defict would be replaced with a surplus within a year. The tax may be a long term solution but the current deficit is more the result of poor short term budgeting. They spent a bunch of money thinking more was coming in. If the current situation stays then they will indeed need to get their spending in check.

What is the point of adding a sales tax if the provincial government has no idea what to do with the money? Even if they did create such a tax what are the chances that the surplus will last for longer than a year or two before its gone and replaced by more thoughtless spending? They need to get their spending in check before adding any new taxes rather than adding the tax and finding a convenient pet project to waste it on.

[Accountability Now]

What is the point of adding a sales tax if the provincial government has no idea what to do with the money?

I agree. I still get upset thinking of the Ralph Bucks that flew out of the coffers back in 2006. It was nice getting the $400 but I have to beleive it was much better spent in infrastructure or saving it for the rainy day. Having said that Alberta has yet to be put in a situation where they truly have to be diligent and responsible. Big oil booms always fill the coffers and they get off from any true budgeting. So the Budgeting 101 class that our politicians take all say to ride the wave. This may haunt the province one day but until then they are just enjoying the ride.