Mr. Speaker, I thank the hon. member for the question, particularly since I know he is an expert on deficits from his time in Ontario.
The plain fact is that the world economic recession is deeper than anticipated. Fortunately, Canada entered the recession in a strong position because of strong fiscal policies. We paid off almost $40 billion worth of debt in the first three years of this government. That puts Canada, as Canadians know, in the best position to weather the storm.