Mr. Speaker, the government often touts its record on net debt, but it fails to take into account that Canada is the smallest of the G7 economies. It has the smallest currency of the G7 economies, and it is not a reserve currency like the U.S. dollar or the euro. It also fails to take into account subnational debt in this country. It is among the highest levels in the OECD, which the federal government backstops. Just five years ago, a province hit the debt wall, ran out of money, could not pay its doctors and nurses and could not raise a penny on debt capital markets. The federal government had to bail it out.
Would the member comment on that?