Today's the day we get to find out how the deficit is going to be paid for. It's not going to be easy but I am absolutely certain - as I'm sure you are - that we cannot leave this massive debt for our children to pay off.

I am not going to try and tell you I agree with everything this Coalition government is doing because I don't. Let's not forget this is a "Coalition" government of Conservatives and Liberal Democrats forged at a time of immense financial turmoil.

A few years ago the world economy fell off a cliff. Banks which provide the engine oil of our free market system were in danger of seizing up. To his credit Gordon Brown took some dramatic and successful steps to stop that happening in this country and many others followed his lead.

The rescue took billions of pounds of our money to achieve. However as in the case of all recessions before, tax receipts dived and government spending relentlessly continued to climb. Unfortunately for us in the UK it came at a time when we had no reserves to draw on. The Labour Government had been conned into believing that personal and government borrowing could be paid for by ever increasing tax dividends from reckless bankers. It was a near collective hypnosis with only a few commentators willing to cry wolf.

At the time of the election most thoughtful politicians and economists were well aware of the scale of the problem. A massive and increasing "structural debt" was opening up in the country's finances like a black hole that would drag the country into an economic and social abyss.

The then Chancellor of the Exchequer Alistair Darling did his best to mask the true seriousness of the problem but nevertheless was forced into announcing cuts which he described as worse that anything Margaret Thatcher ever contemplated. That should have been a clue to how bad things really are.

When the election produced the political stalemate it did, the country faced a "Perfect Storm" of a political and economic crisis with the money markets moving swiftly through the weaker European countries devastating their credit rating and so massively increasing their cost of borrowing. The UK was close to being the next country to fall.

The success of the Coalition deal allowed the country a breather from these dramatic events. But if the promises made to tackle the debt crisis are not seen to be delivered, then the storm will return.

I have been a member of the Liberal Democrats for 25 years next year. I have fought against the cuts to schools, hospitals and social care programs which the Thatcher/Major governments imposed. I have demonstrated and fought against the illegal wars and illiberal laws which the New Labour government imposed.

At long last I am a member of a party which is in government - participating in decisions which affect us all. The big test for me is not how many sacred cows we have to sacrifice to remain in power. The big test is that we remain true to our overall principles summed up in the election manifesto: fair taxes, a fair chance for every child, a fair future creating jobs by making Britain greener and a fair deal by cleaning up politics.