Thank you, Mr. Chair.
Thanks to you, Mr. Page, and to your staff.
First of all, I wanted to thank you for your work over the past number of months in very difficult circumstances. We ask a lot of you, and you don't always get the cooperation you should.
I want to focus on fiscal outlook. I'm particularly concerned about the run-up of the accumulated deficit. Even between July and now, the accumulated deficit has gone up by $12 billion. My recollection of these kinds of things is that the farther out you get, the less accurate you become. Generally speaking, projections are pretty solid for a year or two, but after that it starts to run off.
In your projection of the $167 billion over the next five years, I would be concerned that you might actually be low on that number. I'd be interested in your observations.