Mr. Speaker, as I had indicated, a deficit in the short term is something the government has signalled it would consider. It is certainly a direction we do not take lightly.
Thanks to the fact that we have paid down debt by some $37 billion since taking office, the country is in a position to respond. Going back further, Canadians have worked hard to pay down the national mortgage from its peak in the mid-1990s of about $562 billion down to about $457 billion today, this at a time when our economy experienced steady and almost unprecedented growth.
It is a path we must stay on over the long term. Because of this tremendous achievement, Canada is almost unequalled in its strong fiscal position. It gives us the ability to take the necessary steps in the months ahead to keep Canada's economy strong.
Canadians expect that part of a prudent way forward should also include tightening our own belts here in government. This is what families do when they are faced with an unexpected loss of revenue; they prioritize their spending.
Our economic statement of Thursday last addressed the direction of those spending changes. It certainly became clear over the weekend that some of the proposals forwarded on Thursday would not receive the support of members opposite. The government has listened and adjusted.
I think it is fair to say, based on the advice I heard from people in the riding this weekend--