Mr. Speaker, Canada now has $4 of debt for every dollar that our economy brings in. That is a record ratio and is double the average over the past 60 years.
The government is printing money and has created $354 billion through the Bank of Canada. This is driving up inflation, especially with respect to house prices. This inflation could drive interest rates up, which would affect the record levels of debt held by our families, businesses and governments.
Does the member agree with me that we could end up with a crisis if interest rates rise before we reduce our debt?