Madam Speaker, I always enjoy following the hon. member's wanderings through historical revisionism. I would agree that the Canadian economy is humming, but it is not humming because of what the Liberal government is doing. It is humming because the world economy is humming, and the U.S. economy is humming.
The most remarkable thing about this budget, as many economists have pointed out, is that it is notable for its lack of economic analysis, something that the Parliamentary Budget Officer fully agrees with, when he talks about the lack of detail on direct program expenses, the lack of detail on infrastructure spending, and here he pauses to remind the government that roughly a quarter of the planned infrastructure spending will lapse because the government has not figured out how to get those billions of dollars out the door, and the lack of detail in national defence, with no explanation of how Canada's new defence policy is going to be funded over the coming years.
My friend likes to talk about the GDP. The Parliamentary Budget Officer has noted, and this is where I will come to my question, that budget 2018 bases its estimates on U.S. potential real GDP, in other words, the potential for the American economy to continue to grow sustainably. The budget officer suggests and requests—