Madam Speaker, once again, we have an example of a Liberal judging his success by how expensive he can be. If we look at the other countries that responded to COVID, they managed to deliver better results. They managed to deliver better COVID outcomes and lower unemployment with significantly smaller deficits. In fact, we have the largest deficit, as a share of GDP, anywhere in the G20. In fact, we had a bigger deficit last year, as a share of GDP adjusted for inflation, than we did in World War I, in the Great Depression and in the great global recession.
What the government is building us toward is a debt crisis. It has massively inflated the housing market by flooding the mortgage system with printed cash. It is now creating consumer price inflation, and our $8.6 trillion of household, corporate and government debt will “debtonate” if interest rates rise before our debt ratios come down.