Stelmach to drop no-debt law

Still, Alberta’s in nice shape because, he says, “Cash is king, cash is king!”


Remember that law in Alberta prohibiting provincial deficits? If not, forget it: The Stelmach government is preparing to amend it, paving the way for the Tories to access Alberta’s vast savings and perhaps even allowing it to borrow cheap money for some overdue infrastructure projects. Premier Ed Stelmach tells Albertans not to worry–they’re in much better shape than in the 1990s, when former premier Ralph Klein originally brought in the no-deficit legislation. “We have an opportunity because I honestly believe that cash is king. Cash is king,” Stelmach said. “There’s no (other) jurisdiction that has money liquid.”

Calgary Herald Edmonton

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Stelmach to drop no-debt law

  1. Too funny. He must have taken his cue from Gordo Campbell. Pass anti-debt legislation when times are good and recind the legislation when the hangover starts. Sure, blame global events vs. looking at how poorly the Western Provinces have been run for the last decade, this is much easier. What this country needs is some hard hitting mainstream media who can ask these questions BEFORE the horses escape through the open barn door. Instead, mainstream media perpetuates a “chicken in the pot” for all mentality and discourages fiscally responsible government at times of largess.

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