Mr. Speaker, Moody's, Standard and Poor's, and other financial firms continue to provide warnings about the financial situation of the Government of Canada. They continue to evaluate our securities.
Yesterday, Standard and Poor's lowered its outlook on our foreign currency debt from negative to stable, saying that it reflects the possibility of a downgrade should the slow pace of deficit reduction fail to ease the government's debt and interest rate burdens over the next few years. The budget does not get the job done.
Will the minister admit that the cuts in the budget are inadequate to control the growth in debt and interest payments?