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Edmonton does not have a debt problem - MasterMaq.ca Blog
There has been a lot of talk about Edmonton's debt recently, with some candidates going so far as to highlight debt as a key election issue. Debt is one of those topics that is easy to complain about but difficult to understand. Throwing out a billion-dollar number and proclaiming it bad is easy, understanding how we got to that number in the first place and how it fits into the broader context of the City's financial situation takes more effort. Here's a look at Edmonton's debt history for the last fifteen years: So we can see that at the end of 2012 our city's debt totaled $2.2 billion, which is 53.4% of our debt limit as outlined by provincial legislation. Is that high or low? Let's make some comparisons. Here's what Edmonton's per capita debt looks like compared with Calgary: So we've got less debt per person than Calgary does, and have had significantly less over the last decade. What about the rest of the province? Municipalities collectively owed about $7.7 billion at the end