If you think of the Canadian economy as being a workhorse, and then the debt loads being in the wagon behind that workhorse, it's one thing to say, “Well, the federal government's debt load, we can put that in the wagon and the horse can pull the wagon.” But that does not remember the fact that the horse also has to pull provincial debt, municipal debt, corporate debt, and then the massive personal debt. Those are all in that wagon as well, so when we consider increasing the weight of the federal debt in that wagon, ought we not to look at the other weight that the Canadian economy is pulling?
On March 26th, 2018. See this statement in context.