Mr. Speaker, during the last election there was a financial earthquake. Unfortunately, it also occurred in the middle of a global sea and it will create a tsunami that has yet to hit the world and Canada.
In the last Parliament, one of the first things the government was to do was to pass the Federal Accountability Act and to create the position of Parliamentary Budget Officer, who, yesterday, completely refuted the government's arguments that things were sound, that we will keep the course and that we are in better shape. In fact, he announced to the government and Canadians that the deficit next year will be about $13.8 billion and about $11 billion each year thereafter until the year 2013, accumulating increased debt by about $50 billion. He says, very clearly, that it is due to the decisions and actions of the Conservative government and not the deteriorating global economy.
It would appear that the Prime Minister's position has been eroding very slowly and that he, very slowly, is admitting that some things may need to be done. However, what concerns me the most, notwithstanding that Parliament passed that act, created the position of a Parliamentary Budget Officer and received a report from that budget officer, is that the finance minister's position now in the media is that the government has its own set of economic forecasts.
It appears that the government continues to be in denial about the seriousness of the economic crisis that Canada is in and will be facing for some time. I wonder if the member shares that view.