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Guess Which Country Is Fiscally Conservative?

July 19, 2012

Re: For the First Time, Canadians Now Richer Than Americans

Canada began turning fiscally conservative in the 1990s when the federal budget was first balanced by the Liberal Party. Since the Conservative Party has taken control of the government fiscal conservatism has been accelerated. Here are some lessons President Obama would do well to learn: Free Markets, Not Socialism, Has Enabled Canada To Surpass The U.S. In Wealth

Update Sept., 2012: I just heard the Prime Minister say something that I did not know. Apparently, the Canadian unemployment rate is closer to the American U6 than is the popular U3 used in the U.S. I did a search and found this: The gap between US and Canadian unemployment rates is bigger than it appears

Using the numbers from the right chart below, I calculated what the August rate for America would be if the Canadian method was used. The Canadian unemployment rate for August, 2012 was 7.3%. Using the Canadian measure, the American unemployment rate would currently be about 10.7%. So, in a direct comparison, President Obama’s fiscally liberal unemployment rate is 47% higher than Prime Minister Harper’s fiscally conservative rate!

This is confirmed by the first chart illustrating the stark difference of Total Employment between the two countries since 2006. Clearly, fiscal conservatism bests fiscal liberalism.

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