Quote:
Originally posted by sean416
Is it the canadian dollar thats getting better, or the american dollar thats going down the toilet?
I know the oil prices are affecting the canadian dollar, but I also know that the US deficit and their job less/medical loss must have an impact on their economy.
Anybody know?
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Actually, the CAD is getting stronger against multiple currencies.
The big part of the drop in exchange rate is due to the US going bankrupt in the near future, and the difference in interest rates.
Canada is the ONLY G8 country that posted 7 CONSECUTIVE surpluses. They cut taxes by 100 billions in the past 7 years, and we still manage huge surpluses every year.
Canada also reduced its Debt by more than 60 billion dollars in the past 7 years (current deficit is 502 billions, so they reduced it by more than 10%)
Compare this with the US budget:
http://www.academycomputerservice.co...ics/charts.htm (bottom of the page)