Mr. Speaker, less than a year ago, the Liberal election platform promised that the federal deficit would be limited to an already eye-popping $62 billion. That deficit exploded to $78 billion in the fall, with billions more added since. Our federal debt is now nearly two and a half times what it was just a decade ago. Meanwhile, the Toronto Star is warning this morning that Canadian household debt has risen to a record $2.6 trillion.
How have we gone, in just a decade, from a country with a balanced budget and the richest middle class in the world to a country where Canadians are taking on record personal debt to pay off the bills passed down to them by their own federal government?