John Manley appears on CTV's Question Period to discuss where inflation, interest rates and federal spending stand today—and what they mean for Canada's economic present and future.

When it comes to the upcoming federal budget, John says he has been concerned about the amount of spending for several years. "As you watch the accumulated debt build up, the burden of paying interest on it becomes heavier and heavier . . . The reality is that most of our additional spending that's been layered on in creating programs is mostly consumption, it's not on the investment side, so will not contribute to growth."