It's a great question. The fundamental challenge that I think the country is dealing with now is.... Sure, there is a lot of debt in the country, there's no question. When you layer it all together, as Mr. Poilievre indicated, we are a highly indebted country. That said, we are in this very difficult economic circumstance that requires a tremendous amount of support to get us through to the other side. The question very much is, who has the best balance sheet to do that?
It's clearly not households. It's clearly not provincial governments. It's clearly not our municipal governments, which can't even do anything. It's going to fall on the federal government. Even in a worst-case scenario with the resurgence of the virus and requiring an extension of the CERB or sustained wage subsidies or massive amounts of money going into training programs, if that were to be required at some point in time, we're still in a world where the federal government is going to be the entity with the best balance sheet to help us manage that.
Now, at some point, markets—