What you wrote in your above post just serves to defeat your arguments.<quoted text>
The ONLY reason why Canada is in the black is because of .....oil exports!! Just like Norway. How does it feel to get money from something you hate?
Oh, Canada dipped into a recession because their neighbor to the south went into recession. But you have fully recovered while we have not!
And you deficit is nothing compared to our. How does you deficit compare as a percentage of GDP? t=The US is 111% of GDP and Canada is (FY2011) just 32.1% of GDP!!!
In 1997 you GDP to Debt was 63.8%
Yes, our GDP to debt in 1997 was 63.8. Who brought it to less than 25%. The liberals, same time as Clinton did the same. The US economy, with its runaway printing of money, leads the worlds' economies. For now. So, a recession in the US affects Canada and plunges us too in depression. To say we are prosperous because of oil is not quite true. BTW, for some reason I cannot fathom, Norway has one of the highest GDP to debt in the world. Our provinces of Alberta and Saskatchewan, the latter to a lesser but increasing extent, get the lion's share of revenue, and all the feds collect are taxes, no royalties. Oil is not our number 1 export, lumber and its byproducts are. We went from 80% natural resources exports to 60% manufactured exports in the last 20 years.
And thank you for writing we are fully recovered from the recession. Sadly, we are not. The last 6 months have seen us going down whilst the US is going up. Our stock market was 2000 points ahead of the DJI two years ago. That has reversed to a 2,400 point deficit today, so well has the DJIA perfomed and the TSX underperformed. We are right now, like you, well, like most countries, in a very fragile position. A small wave could rock the boat. We are living on borrowed time, borrowed money. We'll see what happens in the next 6 months. Not optimistic.