Marie and I are looking forward to seeing many of you again at this year's Annual General Meeting and Convention in Red Deer. It will be a great opportunity to discuss a variety of issues - not the least being the impact of the recession on our province. Managing Canada's most volatile economy is always a challenge. Never more so than in the midst of a global recession that has seen demand for our exports shrink and a precipitous drop in natural gas prices due to oversupply.

While this is indeed a serious situation, we need to keep it in perspective. This year Ontario's projected deficit will push that province's net debt to $174 billion, and B.C.'s deficit will raise their debt close to $30 billion. Alberta's projected deficit, by contrast, will not add one cent to the province's debt ...