It compares favourably to what we had as a country coming out of the Second World War. However, comparisons with World War II have to be taken with a grain of salt because the system of national accounts was different back then. In the 1940s we didn't talk about GDP, gross domestic product, we talked about gross national product, which took into consideration the production of Canadians, regardless of where they were in the world. That's one difference compared with the GDP, which takes into consideration production within the physical boundaries of Canada. There were differences, but by and large, we're far lower than we were coming out of World War II.
Compared with other countries that have reasonable safety nets, G7 countries are a good point of comparison, and we are probably the lowest or second lowest. We have the second-lowest debt-to-GDP ratio of the G7. There are countries, such as the U.S., that are close to or above 100%. Japan is above 200%, which I sincerely hope we don't get to. We are in a very good position when we compare ourselves with our international competitors: Italy, Japan—as I mentioned—and France. Germany is probably in a very good position, but the U.K. and the U.S. have higher debt-to-GDP levels than we do.