Debt Isn't That Bad According To One Alderman

One alderman says the city\'s debt picture isn\'t as gloomy as some would portray.

One alderman says the city's debt picture isn't as gloomy as some would portray. Ted Clugston, Chair of the Audit Committee, says the city owned utility is responsible for 90% of total debt, but is self supporting. He adds the $212-million debt the city is carrying has to be looked at in a different light than other levels of government. "You can not confuse our debt like running a deficit like a federal government which they use to buy good and service that can never be replace," said Clugston. "When the city of Medicine Hat borrows money it's for capital and it's for long life assets that pay off over time." Clugston also says it's unfortunate that many people intentionally "muddy the waters" when it comes to the debt situation, for their own benefit.

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