Calgary's debt would grow to more than $10 billion by 2030 under draft budget

Calgary is a city in Alberta. Its draft budget says city debt would grow from $3.8 billion to more than $10 billion by 2030. Debt is borrowed money that must be paid back. A draft budget is a plan that is not final. City council starts debating it on November 23. It would spend $21 billion on building projects over four years, including the Green Line, a new train line, and water plants, buses and roads. The city would use 80% of the debt it is allowed, up from 43% this year. Mayor Jeromy Farkas supports it. Some councillors worry.