Mr. Speaker, I would like to thank the member for the speech he gave, which was kind of a summary of what is going on in his riding, as we are all expected to do on behalf of our constituents, asking what the budget has for our constituencies.
I noticed that he failed to mention some of the darker clouds in the budget, especially on the deficit and debt numbers as they are right now. I wonder if the member could comment on his comfort level with the government accumulating well over $100 billion of new debt in the next few years. We are at $705 billion right now, as the national debt stands. If we add in Crown corporation debt, we are at about $1 trillion.
One of the most interesting things is that when the government proceeds to borrow large amounts of money on the public market, the central bank, the Bank of Canada, reaches the point where it has now started to buy mortgage bonds, widely traded mortgage bonds on the market to fill up the balance sheet. It is unique. It is the first time in the history of Canada.
I would like to hear if the member has any concerns over the out-of-control spending, the out-of-control debt or the $1 trillion of debt, combining the Crown corporations and the Government of Canada.