Mr. Speaker, I cannot emphasize how important it is to pay down the debt and give Canadians their money back. Many Canadians do not realize what it means in terms of money that was saved on an ongoing basis when we paid down that first $13 billion or so of debt. I cannot remember the exact amount of money we paid down on the debt, but we saved approximately $1 billion in interest costs. That was over the course of one year, and it will go on for every year in perpetuity.
When we pay down $30 billion, $40 billion, $50 billion, look at the interest we are saving. That money is permanently in the hands of the people and not in the hands of those who lend money to government. The people can now determine how we spend our money.
The Liberals and the New Democrats want to drive us into spending more money and ignoring the debt. I remember the conversation that went on many years ago when some of the trade unions asked Bob Rae to declare Ontario bankrupt. They did not understand the long term implications that would have on our children and grandchildren.
Paying down debt and living responsibly within our means ensures that our children will have a chance to voice their opinions and make them count, not simply the voice of the banks or the large lenders, but the ordinary person. When we pay down debt, we empower ordinary people.