Thank you, Mr. Chair.
Good morning everyone and thank you for your testimony. I'll try to do a couple of questions here so we can go across the board.
First off is Clayton. I listened to your comments. My first question is this. In Canada right now our debt-to-GDP ratio is declining. We're running a deficit-to-GDP ratio around 0.7%. In the United States, the equivalent deficit-to-GDP ratio is around 5%. Would you argue for stimulus—whether it's a tax expenditure, a tax cut or increased spending—to increase our deficit?
A lot of your comments were aligned with the party across. Would you argue for a higher deficit? How would you pay for it? What services would you cut?
I'd like a brief response, in 20 seconds, please.