The Stelmach administration’s overspending and failure to plan has created a $6.9 billion deficit, and soon the Sustainability fund will be drained dry, putting Alberta in a precarious position.

So far, the government’s only plan to deal with this crisis is to somehow find $430 million in savings from the various Ministries this year and another $2 billion in the future from so-called “corrective actions.” Neither the Premier nor the Finance Minister have given anything more than vague assurances that the money would somehow be found – no details have been provided.

Even if the Stelmach administration comes through with those savings, that still leaves Alberta several billion dollars in the hole. How exactly does the Premier plan to pay for everything once the Sustainability Fund is drained?

The Stelmach administration started with a clean slate: no deficits, no debt, and record resource revenues pouring into government coffers. Having had it so easy in the past, now in-the-red Ed doesn’t know what to do, other than cross his fingers and hope resource revenues will miraculously skyrocket.