We are talking about a society that, from a government perspective, is very much in debt

"Let me take 10 minutes, and this will be as concise as I can make it, to talk about where we are going in the financial future of this country. We need to link here exactly what is happening with the government. It is about truth and consequences. The truth, of course, is that we are running bigger and bigger deficits. Our debt is getting higher and higher. There are consequences to this going forward, and those consequences are going to be borne not by the government in power here but by the Canadian people, who are going to continue to face mounting debts, deficits, interest payments and household debts going forward.
Three months ago, we had a Liberal finance minister deliver a budget. In it, there was a lot that she put in front of Parliament, including another $40 billion-plus deficit added to Canada's debt, which has now reached $1.3 trillion. That is only federal government debt. Layer the provincial government debt on top of that, of all the combined provincial governments, and there is another $900 billion. We are talking about a society that, from a government perspective, is very much in debt."