A depression is not happening right now. A depression means that there is declining growth, which is not happening at the present time. As was indicated earlier, we are experiencing the most difficult decade since the 1930s, for a variety of reasons with which we, as members of parliament, are familiar.
In this type of ongoing discussion, which has taken place for years in the House of Commons, one can follow one of two routes; one can indulge in the hyperbole concerning government spending, or one can take the economic route. I repeat that the percentage of the gross national product which is debt is not as high as it was in 1962. One can indulge in hyperbole and frighten people half to death, or one can gather many books written by economists. Today I went to the library and ordered a copy of the book entitled "General Theory of Employment Interest in Money" which was written by Keynes.
Subtopic: INCOME TAX ACT
Sub-subtopic: MEASURE TO AMEND