Madam Speaker, my colleague is on the right track when he talks about the state of Canadian home debt. He could have mentioned as well that our housing market is in a bubble. The price of housing has escalated to a point where, if the interest rate moves up over the next couple of years, many young Canadians will be severely impacted by it. We are in a situation now where, with any change in world politics, we can see a huge increase in the price of oil. The price of oil is already at record levels. All these things are pointing to the fact that we are living in a world where we think we have a solid and sustainable economy, but that is simply not the case right now.
In the House of Commons on March 27th, 2012. See this statement in context.