This nearly unbroken string of budget deficits is taking a substantial toll on Alberta’s finances. The province entered the financial crisis with $35 billion in net financial assets (all financial assets minus liabilities). However, by 2016/17, Alberta’s debts exceeded its financial assets for the first time since 2000/2001.
RELATED: 2017 Budget
Hardly anybody I talk to is worried about this. They look at me like I am retarded when I say I am worried about government debt. I always learned that the only way to survive hard times was to cut spending. I guess my parents were wrong because now it seems you borrow like a fool and spend like an idiot.
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