Alberta Deficit Problem

[Glacier]

Alberta needs another Ralph...

[Ken7]

Even with Ralph in, I don't think this would have changed. Yes Ralph had and I believe there still is a golden saving account. However, what to do spend the savings, or make the taxes cover the necessities! I think raising taxes would be the wise choice as you can only hold back so long when this dip occurs.

Time will tell!

[jimmy4321]

Hopefully a lesson learned, doubt it though.

[Glacier]

One problem is that so much money was coming into government coffers, that they gave everyone huge raises, so that now that things are down to more normal levels they cannot afford to pay for those raises.

[Atomoa]

I guess the ultra low taxes and royalties have nothing to do with this issue of no money in the tax coffers in a province where you need to wear rubber boots to keep your socks from getting oily.

It's unions and public servants to blame, even though it's been trickle down governments back to back the last 40 years and oil tycoons are laughing their way to the Cayman Islands.

Alberta. The broke lotto winner.

[Glacier]

It's a combination of problems. Another problem is that their markets are tied in by politics. Meanwhile, the Norwegians are looking to drill for oil in the Canadian Arctic (if the red tape and protests don't stop them first).

[driveangry]

Typical greedy politicians, they will never learn.

I remember the bumper stickers from the last one in the early '80's,,,, " Please God let there be another oil boom, I promise not to *bleep* it all away this time"

So much for their promise.

[Atomoa]

Looks like not only the government is having issues.

http://www.vicnews.com/national/298224141.html

Jeff Schwartz, executive director of Consolidated Credit Counselling Services of Canada, said he saw a 38 per cent year-over-year increase in clientele from Alberta in February. Nationwide, there was also an increase — but in the order of 10 to 15 per cent.

Schwartz said he's not surprised by the numbers. A report by credit monitoring agency Equifax earlier this month said Calgarians had the highest non-mortgage debt loads in the country — an average of $28,263 in the last three months of 2014. Edmonton wasn't far behind, with average debt at $26,305.

"Albertans are in the deepest debt," said Schwartz. "They're used to earning big. When a boom cycle comes through, they do very well and that's a good thing. But as part of that, they also live big."

There was a 58.7 per cent increase in consumer proposals in Alberta between December 2013 and December 2014, according to Ottawa's latest insolvency statistics.

Even the citizens of Alberta seem to spend like their government. After a boom like that, those numbers are shameful.

[westbankkid]

I can see a provincial sales tax in the offings... Get ready Albertans.