It is true that gross debt is much higher than net debt.
One thing that I want to bring up, member, with respect, is that I talked about these projections of five decades of deficits. That is startling in and of itself, but the PBO also estimates from their data that it would take at least another two decades to finally pay off that debt. I think many taxpayers are wondering if they'll ever live to see a debt-free Canada. Even more startling is the fact that the PBO assumes relatively low interest rates. It assumes a steady upward march of economic growth. I think we should all be concerned about what happens if interest rates tick up and if we stumble into another downturn unrelated to the pandemic.