One would think it would be small, but it is the vast majority, almost 75% of the debt.
If that is not enough to convince my Conservative friends across the way, let us think about when Stephen Harper became the Prime Minister of Canada. At that time, he inherited a multi-billion dollar surplus. Prior to the recession, and it is really important to recognize this because the Conservatives have said there was a recession, the Conservatives took that multi-billion dollar surplus of Paul Martin and converted it into a multi-billion dollar deficit.
Every year after that, the Conservatives had deficit after deficit, right through to the very end, as far as I am concerned. The Conservatives will say that in their last year they actually had a surplus, a balanced budget. I was here in that last year. I sat on the opposition benches when Conservatives sold wholesale the government's GM stocks in order to try to achieve that balanced budget. Independent offices said there was no balanced budget. I questioned that so-called balanced budget.
At the end of the day, if Stephen Harper demonstrated anything, it was not just that he could not keep Canada's budgets balanced in any way, but also that when it came to economic performance, he failed miserably. Let us think about it.
We have been in office for three years, working with Canadians and industries, taking on all sorts of economic activities, and we have seen over 500,000 full-time jobs generated, and many more, tens of thousands, part-time jobs. Let us compare that with the 10 years of Stephen Harper.
One colleague who used the phrase “Duh” said it quite well. Stephen Harper's stewardship of our economy was not that great. We would have to go back decades, through records that were set in the opposite direction, with Stephen Harper as Prime Minister.
We have seen so many actions by the government, and having only 10 minutes to talk about them just does not do them justice. We have talked about the most important thing that is happening as a result of our budgets, which is that we are reinforcing the importance of Canada's middle-class and those aspiring to be a part of it, while at the same time giving a helping hand in a very tangible way to our seniors who are living in poverty, in particular those receiving GIS, something the Conservatives and the NDP voted against.
We see the enhancement of the Canada child benefit program, and tax changes that would prevent millionaires from receiving it, literally putting hundreds of millions of dollars back into the economy. They voted against that too.
About $9 million a month goes into Winnipeg North alone from the Canada child benefit program. Think about what does for the collective disposable incomes of the residents of Winnipeg North and the impact that spending has on the economy. The rising disposable across the country is a direct result of Government of Canada initiatives under this Prime Minister, this cabinet and this caucus. That is helping to drive the economy. A healthy middle class ensures a healthier economy, because it is the middle class that drives the economy. If we invest in the middle class, we are investing in Canada.
On Wednesday we will be getting a fall economic update. I am looking forward to it, as all my caucus colleagues are, because we understand and appreciate the important role this government has played in our economy in the last three years.
Let us go back to the idea of the budget. I explained why people who are following this debate should get a better understanding of who is requesting the type of information being requested. It is the official opposition party that is requesting it, a party failed miserably to balance a budget, period, while it was in government. That was not just for a few years, but historically has been the case. Why should the current Government of Canada take advice from the Conservatives on this very important issue?
At the end of the day, the economic plans and programs we put into place are working. We have seen that in a very tangible way. I am thankful for the opportunity to share a few thoughts.