Mr. Speaker, it is quite the opposite as anyone who has read the TD study would demonstrate.
The fact is that from 1990 to 1992 this country went through one of the deepest recessions we have ever seen, much deeper than the United States. In 1993 when we took office with a deficit rising, interest rates rising, unemployment rising, it is very clear that Canada suffered from severe trauma.
What has in fact happened since we have taken office is that those numbers have turned for the better. Our unemployment is down. Our interest rates are down. Our economic growth is up. The situation has turned around and most economists would recognize that.