Let's not forget that in late 2008, Canada had to have a political crisis before the government decided to put forward an economic stimulus plan, which Canadians and every opposition party had been calling for.
We cannot wait for a recession to hit before taking action. There are plenty of troubling signs around the world. In the U.S. and in Europe, people are calling on the government to take immediate action. Fortunately, Canada is on solid economic footing. No one wants to see Canada turn into Greece, Italy or Portugal. With a net debt to GDP ratio of 35%, as compared with 75% or 100% in most developed countries, we do have room to take short-term measures. We need to stay on track for the long term, but if we don't take action in the short term, we will all pay the price down the road. Canada does indeed have the ability to respond.