Provincial debt clock making the rounds in Alberta

Alberta's Debt Clock is making the rounds again in the province, and the Canadian Taxpayers Federation says Alberta's debt load has already surpassed $10B.

Taxpayers in Alberta are on the hook for more debt than ever, says the Canadian Taxpayers Federation as they are set to send their debt clock on tour through a long list of communities.

The CTF launched the Debt Clock Tour to raise the alarm over Alberta’s exploding debt, which surpassed $10B at 10 p.m. on Thursday night.

“Making our great province debt-free once again is the number one priority for the CTF in Alberta right now,” said CTF Alberta Director, Derek Fildebrandt in a release. “We are going to take the fight to as many towns and cities as we can to rally support and put the heat on politicians to take a stance.”

The organization says that the province is on target to reach $21B by 2016-17, with the debt load increasing by $4.7B this year alone.

This weekend also marked a bittersweet anniversary for the organization, where it’s been 10 years since Premier Ralph Klein proclaimed that the province’s debt was ‘Paid in Full’.

Fildebrandt says that the province has made poor decisions since that time, spending most of the Sustainability Fund.

During the tour, the CTF is inviting all MLAs to take a pledge to strive for a balanced budget and a debt-free Alberta.

Wildrose Finance Critic Rob Anderson and Liberal Finance Critic Kent Hehr have both already signed the pledge, and Wildrose leader Danielle Smith is expected to sign it later this afternoon.

For more information on the Debt Clock Tour, click here.

A complete schedule is available here.

Some quick fact about the CTF’s Debt Clock:

Alberta’s debt is increasing: