Okay.
Let me be clear about something. I don't think there is a crisis in the payment of CPP in the near term—and I don't think any right-thinking person thinks that—but I do think it merits at least a bit of discussion. I'm not even saying that it's necessarily an issue, but I think Canadians should be aware that the cushion has been reduced.
I would like to go over a couple of the numbers so that Canadians can be aware of the impact of the reduction. In my research, I became aware of a concept called “assets to expenditures” or, in other words, how many years the assets of the CPP could fund its liabilities.
Underneath it previously, with the 9.9 to the 9.5, it was predicted to be 14 in 2050. That comes down to 13. By 2100—I certainly won't be around in 2100, but I hope my children will be—it was predicted to be 20.7. That moves down to 14.5, significantly reducing the cushion, as I've said. This isn't in the near term but is more for other folks' children. As Chief Carr of the Hiawatha people told me, a leader should always be looking seven generations ahead.
Are my numbers correct there in terms of the impact or are they just broad strokes?