Madam Speaker, I am pleased to rise in debate on Bill C-47.
I want to begin by congratulating my hon. colleague from York West on the excellent work she does on behalf of seniors. She shows great concern for our seniors who are struggling these days. Imagine being on a fixed income that is tied to interest rates when interest rates are as low as they are these days and what a challenge that is to live on very low incomes. When she spoke of people living on incomes of $11,000 a year, it is heart-rending to consider what kind of a life that means for a person. Think of widows, for example, living on that income or sometimes less and how they manage to eke out, to survive.
I want to extend my appreciation for her excellent work in this regard and also my appreciation for my colleague from Malpeque, who spoke before, who has always been a powerful voice for the farmers of Canada and who has great passion for agriculture and for the challenges farmers face. Thank goodness they have a voice like his in Parliament.
During the worst recession in decades, at a time when Canadians families have been struggling to care for sick loved ones, to save for the kind of retirements we were talking about a moment ago and to pay for their kids' education, these borrow and spend Conservatives spent the last four and a half years, almost five years now, wasting billions of taxpayers' dollars.
By the year 2015, the Conservatives intend apparently to add $170 billion to our national debt. Imagine that. When we came into office as the Liberal Party back in 1993, we came in with a Conservative deficit of $42 billion and we managed through the hard work of Canadians. Government obviously played a role, but Canadians sacrificed and got us into surpluses nationally and gradually paid down the debt, year after year for eight consecutive years of balanced budgets, paying down our national debt, moving our country in the right direction and helping to lower our interest rates.
When we lower interest rates, what happens? People can more easily afford to spend on things because they are not paying as much on their mortgage or on their car loan and they can afford perhaps a little more. They can afford to live a little better and it makes a difference in their lives. It makes it a little easier to go to the grocery store. That is important to people.
When interest rates come down as a result of the kind of work done by the Liberal government in the 1990s with the support of Canadians, it benefits the whole economy. There is more money flowing through the economy and that makes a big difference.
The worry is that, with the kind of spending the government has been engaged in, we are eventually going to see inflation and very high interest rates quite possibly. That is good if one is on a fixed income and receiving interest, but it can get too high obviously, so that it hurts the overall economy and it is bad for all of Canada.
The government has been racking up deficit after deficit over the past few years. Its fiscal mismanagement has meant that Canada was in deficit before the recession began. Imagine. The Conservatives came into office with a surplus of $13 billion and within a very short time they turned around in the wrong way and put the country into deficit before the recession began. They can talk all they want about how there was a need to respond to the recession. They did not believe there was a need at first. The Prime Minister said it was a good opportunity to buy stocks. He said things were a bit bad but everything would be fine.
Things got a lot worse. He was wrong. Things got a heck of a lot worse. In fact it was a lousy time to buy stocks as it turns out. It might have been better later if anyone had the money to do it, but most folks did not. Perhaps some of his prosperous, wealthy friends did, but most Canadians did not have the funds to buy stocks at that time.
Here we had a situation where the Conservatives put us in deficit before the recession hit, through their own mismanagement, with some of the biggest increases in spending in history. In the first year they increased spending by 18%. That is incredible.
This year they have done something else, something really spectacular in the annals of deficit creation, I suppose. They have recorded the biggest deficit in our history, $55.6 billion.
There is no question that the Conservative government is the biggest spending, biggest borrowing government in Canada's history. I hope they are not too proud of that record, because it is certainly not a record to be proud of.
It is remarkable to think that the Minister of Finance, also known as the minister of debt and deficit did the same thing in Ontario. I guess we should have known it would happen again when the Prime Minister made him finance minister in Ottawa.
Somebody has to tell the Minister of Finance that before he can do things like increase spending and lower taxes, first he has to balance the books. First he has to get rid of the deficit and then he can do those things, as the Liberal government did in the 1990s, but it is a lesson the finance minister sadly has not learned.
It is really a highlight of his mismanagement and of the government's mismanagement. They fail to understand that they do not start increasing spending dramatically and cutting taxes dramatically, as they want to do with corporate tax rates with the big corporations, until they have balanced the books. If they can balance the books, get things under control and get surpluses, then they have the room to do things like that, but not until then. Why they cannot understand that is startling. Their bad choices will mean that future generations are saddled with more and more debt. Those same choices are not helping hard-pressed Canadians today.
This right-wing Republican-style government, and I do not know if we say a tea party-style government these days because it is pretty right wing, is turning its back on people who are struggling to make ends meet in these tough economic times. Some of my colleagues have talked about this already. It is pouring billions of dollars into U.S.-style prisons and doing nothing about prevention of crime. It is pouring billions into untendered fighter jets and tax breaks for wealthy corporations.
It is interesting that the Prime Minister and the Minister of Defence say that there was a competition for these fighter jets. Yes, there was, in the U.S. 10 or 11 years ago. When was there ever a competition in Canada? Canada was not part of that competition. Since when do we outsource our decisions about making a $16 billion purchase? That is hard to imagine.
Even today in question period, the Prime Minister talked about how there was a contract for the F-35s. The fact, as members of the House know and as the Prime Minister ought to know, is there is no contract yet. The government has signalled its intention, but it certainly has not signed a contract yet. For the Prime Minister of Canada to say in the House that there is a contract when there is not is truly outrageous. If that is not misleading the House and Canadians, I do not know what is. It is very disturbing.
When we look at the government's treatment and we look at how it spends wastefully, is it any wonder that poverty is on the rise under this regime? Instead of punishing homeowners in March by killing the home renovation program, it should have taken the knife to some of its own pet projects. It could have started by cutting costs, for example, at the G8 and G20 summits, the 72-hour, $1.3 billion photo op to satisfy the Prime Minister's vanity.
Imagine what the money was spent on. The government wasted millions of dollars on fake lakes, glow sticks, gazebos and steamboats. It had a department responsible for summit infrastructure supporting the building of a gazebo that was kilometres and kilometres from any summit activity.
It had also supported the development of a steamboat that was not even ready to go in the water until three months after. What that could possibly have had to do with the summit is hard to imagine, except that it helped out perhaps the electoral prospects of the Minister of Industry in whose riding it was held.