March 24, 2011 (40th Parliament, 3rd Session)

NDP

Jim Maloway

New Democratic Party

Mr. Jim Maloway (Elmwood—Transcona, NDP)

Madam Speaker, the member would know that our total debt at the moment is around $543 billion and that the government is just coming off adding another $56 billion to that. This year it will be another $43 billion, and the next year it should be a $34 billion deficit. This is at a time when interest rates are actually low. What is the government going to do when interest rates start moving up, which must happen over the next couple of years, and interest payments start going up astronomically?
The government is doing all of this at a time when corporations are getting tax reductions and ones like the Royal Bank of Canada are paying their president $44 million a year.
Does any of this make sense to the hon. member?

Topic:   Government Orders
Subtopic:   The Budget
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