Alberta is back in the red, with the government forecasting a $5.2-billion deficit for Budget 2025 — its first in years. Finance Minister Nate Horner warns the financial picture could worsen, especially if Donald Trump’s proposed tariffs take effect. Despite the bleak outlook, the UCP government is introducing a personal income tax cut. Critics argue the budget lacks focus — or a real plan for the worst-case scenario. Host Jim Brown breaks down the numbers with political scientist Lisa Young, former NDP cabinet minister Deron Bilous, and conservative strategist Amber Ruddy. Later, economist Trevor Tombe weighs in on the province’s decision to run a deficit rather than balance the budget or reconsider its plans for the Alberta Heritage Savings Trust Fund.