Mr. Speaker, my friend from the Bloc is absolutely correct. There were a string of deficit budgets under the Trudeau government. For a number of years, the Liberals ran up the debt to I think around $180 billion before Brian Mulroney's government took over. It was an unmitigated disaster at the time, and that is why they were thrown out.
It is true that the Conservative government of the day was unable to make as much progress as it would have liked. It is also true that the genesis of the problem started with Liberal government overspending.
For the benefit of my Bloc colleague, he is a champion of pursuing the concept of fixing the fiscal imbalance in Canada today. I want to applaud him for his work on that. He has done a great. I look forward to working with him in the new year when the finance committee tackles that issue.