"I've been dreaming about this day for quite some time now,'' Klein, dressed in a cowboy hat, denim shirt and jeans, said at a news conference outside his Calgary office.

"Today I'm very, very proud to announce that Alberta has slain its debt,'' said Klein with members of his cabinet and caucus standing behind him.

Alberta's debt hovered at $23 billion just a decade ago -- almost all of it racked up between 1982 and 1992 when oil prices crashed.

Klein said the debt has been "paid off to the last cent.''

"Paying off the debt is an amazing achievement,'' he added. "There is no other jurisdiction in this country that can say it's debt-free.''

The last time a province -- British Columbia -- declared itself debt-free was in the late 1960s.

Klein also promised the red ink would not return.

"Never again will this government or the people of this province have to set aside another tax dollar on debt,'' he said. Source.

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