A first point would be that the numbers that are presented here for accumulated deficit are for the federal government, and as you said, it was 33.9% of GDP in 2010-11. When international comparisons are done, they tend to be taken on a total government basis, so they bring in all levels of government—the federal government and the provincial and territorial governments—and in Canada's case it also reflects the CPP and QPP. Converting to that, if I use the most recent IMF numbers, the September Fiscal Monitor, on that basis Canada's total government net debt was 32.2% of GDP. The G-7 average was 75.3%.
So our net debt-to-GDP ratio is quite significantly lower than other G-7 countries.