In the last 11 years, Canada has maintained a budget surplus, that is, it has spent less than it has made. The only country in the G7 achieving this. Not any more. Canada's projected budget deficit for 2009 is 50 billion dollars. Sounds like a lot, but compare that with the projected US deficit, which is as big as Canada. Not as big as Canada's own deficit - as big as Canada (the economy)! Read the article here.
The deficit of the US for 2009 is 1600 billion dollars.
The US have a population of 300 million, Canada 33 million. But even considering this, the US deficit is more than 3 times higher than Canada's.
Bad news for Canada, since two thirds of Canada's exports go to the US. If they don't buy, Canada doesn't sell... Talking about exports, I just read that Canada has the second largest reserves of oil in the world, right after Saudi Arabia. I don't understand why the US haven't tried to invade Canada for some time...
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1 comment:
Pois, estas "cenas" deprimentes sobre dívidas e tal, não comento.
Mas, umas fotozitas e tal, já coiso e tal...
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