Mr. Speaker, we did pay down $37 billion in debt because that was something we needed to do. It is like a home mortgage; we need to pay it down to ensure that funds are available.
In terms of the economic situation, things changed dramatically throughout 2008. Even in the last number of months things have gotten worse. This economic crisis did not start here in Canada. It started in the United States and it is global. It has gone far beyond what anyone would ever have thought.
According to the IMF, Canada is one of the best placed countries in the world to ensure that we come out of this economic situation in a lot better force and a lot sooner than any other country.