Madam Speaker, a lot of my friends who have been in public life before have always said that the second term is always more enjoyable. If I get more members on the other side leading with their chins like that, it will indeed be that much more enjoyable.
Mr. Flip-Flop, as we refer to him right now, understands that economies such as Great Britain, the United States and most of the industrialized nations were in a worldwide recession at that time. The only reason we are in a surplus position right now is because of initiatives brought forward by the Progressive Conservatives.
I would remind the member that when he was the chair for the Brian Mulroney campaign he actually had some good sense. The initiative that was brought forth during that era was something called the free trade agreement. Some of my colleagues here might remember that.
We left a legacy for this country in terms of economics. In 1988 our trade with the Americans was about $90 billion. Compliments of the free trade agreement, today trade with Americans is $320 billion.
I am not advocating that we go back into a deficit scenario, because systematically what this country needs is a debt repayment schedule. That is the least that we owe future generations.