He was a councillor and it's illegal for a municipality to run a deficit.
I think you need to reeducate yourself, check out the City of Toronto Act Regulation 610/06. It spells out in detail what debt the city can undertake, both long term and short term. In a nutshell, short term borrowing can be used for operating expenses (50% of estimated revenues for the year up to September 30, and 25% for the remainder of the year) but are expected to be paid when tax is collected. Short term borrowing can be used for interim financing of capital work, and long term debt can also be used for capital work by: issuing debentures; issuing revenue bonds; or entering bank loan agreements. (Reg. 265/07, s. 1).
Under the Ford regime, long term debt grew by $1.2 billion.
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