Mr. Speaker, I can assure the members that the TIREs were full, we were running on all four TIREs, and everything was working well.
We can look at what happened with the great economic downturn in 2008. It was Canada that actually did better than any country in the G7. It was Canada that led the way in growth. While other countries had this huge fall, we continued to maintain.
We spent money. It was the opposition that said we needed to spend more. We spent what we felt was important at the time to get the economy back on track. I will just say that we want to be careful looking at this quarter. Things are well, but I believe there are huge troubles on the horizon. We have mortgage rates that are going to change in January. They are going to raise the benchmark by over 2% to qualify for first-time homebuyers or for homebuyers in general. That will mean that less than 75% of what homebuyers qualify for in 2017 is not going to be there.
There is a whole bunch of these small cuts that are happening. I would encourage the members to be cautious, because as we move forward into 2018 and 2019, I really believe there are storm clouds on the horizon.