The comparisons internationally are certainly favourable to Canada, so I agree with that.
I will point out that when you are netting assets of the Canada and the Quebec pension plans, or some of the big public sector pension plans, against the liabilities of governments when that money is already spoken for for other reasons, you're not misrepresenting the picture as it would appear to a foreigner, but you are overstating the degree to which the federal government might be able to service its obligations, so there are some nuances there.
Comparing ourselves to some of the fiscal problems abroad makes us look better, but sometimes I think that if the rest of the world is in tough fiscal shape.... Maybe the U.S. is in worse fiscal shape than us, and it certainly is, but when we're all trying to finance ourselves, it may be that they are a little more easily able to attract the financing.
When I step back to look at the big picture, I don't disagree with some of the specific comparisons that were made in the fiscal update, but I think it understated the economic and fiscal challenges in front of us. You'll recall that in the spring budget there was a projection from the OECD—as it happens, a former C.D. Howe Institute person who I think very highly of was one of the authors of that study, so it carried a bit more weight with me—showing Canada, in terms of—