Above, Liberal MP Gerard Kennedy suggests tax hikes would be well-received by Canadians, but Liberal Leader Michael Ignatieff says a recession is when Canadians can least afford tax increases. Conservative MP John Baird says tax increases are not on the agenda. The Debt Clock, now showing numbers past a half trillion, is featured in a CTV report.

Below, CTF Federal director Kevin Gaudet says tax increases are far from necessary and that it's time government finally found ways to reduce spending. He debates the issue on Business News Network with a former TD bank economist.