PODCAST: Spending rises, deficit soars in bad news Alberta budget. Is fiscal conservatism dead?

In this episode of the Rob Breakenridge Show, we’ll look at the bleak state of Alberta’s finances in the aftermath of a new budget awash in red ink.The new budget forecasts a deficit of $9.37-billion followed by subsequent deficits for the foreseeable future - all of which violates the government’s own fiscal framework. Spending has reached a record level of almost $84-billion and the budget has become even more reliant on resource revenues. Approximately $24-billion in resource revenue would be needed by next year just to balance the budget.Debt is set to surpass $100-billion, leaving a mounting annual cost of servicing that debt - now over $3-billion.So what’s become of the government’s commitment to fiscal conservatism and responsible fiscal management? What’s it going to take to bridge this huge gap between what the government believes it needs to spend versus what’s its prepared to raise in revenue?We’ll speak with Kris Sims, Alberta Director of the Canadian Taxpayers Federation and get her assessment of this budget and where things are headed fiscally in Alberta. Get full access to Rob Breakenridge at robbreakenridge.substack.com/subscribe