Alberta Is Debt Free

[Via Stephen Taylor]

Well Alberta is now debt free. It is kind of like a catch-22 though since the more money Alberta has in it's coffers the more money Ottawa is going to suck out and spew out over the rest of the country.

Still Ralph Klein makes a good point:

"Alberta is the first debt-free province in Canada. Let those words sink in for a minute. It’s quite an achievement!

"To put it in context, consider that the federal government currently has a debt of more than $500 billion, and debt and interest payments each year of more than $35 billion. That means the federal government's single largest program is debt!"

It is depressing as hell to think that the government spends more on debt interest than any other program.

I wonder if socialists in this country see that their demand for increased government spending only results in the government making interest payments to 'fat cat capitalists' or alternatively results in higher taxes imposed on the average Canadian family.

Regardless their policies benefit those they claim to hate (capitalists) and harm those they claim to care for (average Canadians).