Mr. Speaker, I noted that my hon. colleague quoted with some enthusiasm economist Douglas Porter, who seemed to support his case many months ago. I cannot help but note that the same economist Douglas Porter was quoted in the press today. What did he say? He stated:
On balance, it's quite the opposite of supporting growth. Under the current circumstances, it's unusual, to say the least, given that almost every other major country in the world is moving to stimulate the economy.
The same Douglas Porter so approvingly quoted from months ago by the parliamentary secretary is saying today that these measures yesterday are not what we need because they do not promote growth.
When the parliamentary secretary speaks of past measures to stimulate the economy, I could say the Liberal $100 billion tax cut of 2000 is still stimulating the economy or the measures of 2005 are stimulating the economy, but it is totally irrelevant because the issue is the economy today and the Canadian economy is in trouble today. The OECD says we will have a quarter of a million more unemployed Canadians in 2010 and yet the government did nothing, zero fiscal stimulus yesterday, and moved in the wrong direction through cuts.
Why is Canada almost unique in the world when other countries are stimulating their economies by tens or hundreds of billions of dollars? Why does the government think it is the right time at this moment of crisis to enact cuts?