Absolutely. We have to remember—and this is what I also noted in the full budget submission—that you could balance the federal budget in 2023-24 simply by going back to prepandemic spending of a few years ago, which was already at an all-time high. In 2018-19, you had the federal government spending more than it ever has—with no Canada-wide recession— than it did during any single year during World War II.
One of the other concerns that we're hearing from so many Canadians, of course, is inflation, especially when you have the Bank of Canada's printing press on overdrive. There was $370 billion printed out of thin air and, of course, the more dollars the Bank of Canada buys, the less our dollars in our savings accounts and retirement accounts can purchase. A large chunk of what the Bank of Canada has been printing up is Government of Canada debt. It sure seems like Ottawa is financing a good chunk of its deficits by using the printing press.