Discussion · Government Orders
Pat Kelly Conservative
“The member misled us about Canada's debt. He claims our debt is only 10% of our economy, but that is only true if you count public pension money as cash to pay our debts. When you count all our debt and do not take away pension money, our debt is over 100% of our economy.”
“Mr. Speaker, there was a lot in the member’s speech, but I want to focus on one specific thing he said that was extraordinarily misleading. This is a talking point we have heard before. He claimed that Canada’s total debt-to-GDP was 10%, unlike the United States at 110% or whatever. Does he believe that the entire asset base of the Canada pension plan is free-flowing cash that could be used to repay the debts of Canada, or is it that, with the true meaningful proportion of our debt, which would include subnational debt and does not subtract the assets of the Canada pension plan, the debt-to-GDP is truly over 100%?”
Official Hansard
Mr. Speaker, there was a lot in the member’s speech, but I want to focus on one specific thing he said that was extraordinarily misleading. This is a talking point we have heard before. He claimed that Canada’s total debt-to-GDP was 10%, unlike the United States at 110% or whatever. Does he believe that the entire asset base of the Canada pension plan is free-flowing cash that could be used to repay the debts of Canada, or is it that, with the true meaningful proportion of our debt, which would include subnational debt and does not subtract the assets of the Canada pension plan, the debt-to-GDP is truly over 100%?