Mr. Speaker, the Minister of Finance has stated that, because interest rates are low, Canada can afford this massive debt and enormous endless deficits. She seems oblivious to the fact that interest rates have nowhere to go but up.
Finance Minister Paul Martin stated, “The debt and the deficit are not inventions of ideology. They are facts of arithmetic. The quicksand of compound interest is real."
Future generations, who will have to pay off this massive debt, want to know if Paul Martin was wrong, or if it is the current minister who is wrong.