The inconvenience of deficits and debt

Many Albertans are very concerned about the NDP government’s fiscal management. For those that aren’t, here is the problem:

The NDP is spending $900 million every month they don’t have. That much money would build a few Peter Lougheed-sized hospitals every month; one Calgary South Campus every 40 days or 100 large elementary schools (at $9 million) every month.

The government projections apparently put the debt at around $70 billion by 2020. The NDP premier says this debt is “prudent and manageable.”

Here is the inconvenient part. The NDP won’t be repaying it, you will. They are borrowing this money using your credit cards. To repay $70 billion at three per cent interest will cost you, your children and your grandchildren about $136 billion or $226 million every month for 50 years. Enjoy.

Jim Johansson, Calgary