“True to his word, Klein did enact balanced-budget legislation,” former finance minister Ted Morton wrote for the Herald.“Alberta’s experience proves that statutory rules are not sufficient to protect a positive fiscal legacy,” he continued. “Alberta’s balanced-budget law was removed by a simple majority vote in the legislature.. He was certainly right about the eternal political dynamic.There have been 24 deficits since. More deficits than surpluses, in other words.
For a time, the PCs managed to juggle this without resorting to loans, or at least none they acknowledged. They squirmed at the podium when sharp-eyed Keith Gerein, the Edmonton Journal columnist, figured out what they were really saying.
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Source: calgaryherald - 🏆 64. / 52 Read more »