Thanks to Rachel Notley Alberta received a second credit downgrade and expected to have over $90 billion debt by 2020.
S & P Global Ratings announced today it was lowering Alberta’s rating two notches, from AA to A+.
Brian Jean responded on Facebook:
The NDP budget and massive debt have once again caused a major credit downgrade for our province which is now just as bad as Ontario and Quebec’s.
It’s yet another example of how much damage the NDP is inflicting with its disastrous budgets and policies at a time we can least afford it. These ongoing downgrades will mean millions more in debt servicing costs coming out of the pockets of everyday Albertans. This is totally unacceptable for a province that once led the world in fiscal prudence.
S & P Global Ratings said:
“The province’s budgetary performance … has significantly deteriorated and is materially weaker compared with that of both domestic and international peers,” the agency said in a news release.
“In addition, we expect that for Alberta to fund its growing capital expenditure program, its debt burden will continue to grow rapidly.”
With strong carbon tax and other increased taxes Rachel Notley is forcing Alberta into poverty.