US economy beats expectations again, as Canada falls further and further behind.
Usually, Canada and the US have similar growth rates.
And for much of the Harper Government era, the Canadian economy actually beat the US in GDP growth, particularly in the aftermath of the 2008 financial crisis.
But now, with Trudeau and Trump in power, things are quite different.
To a degree not often seen in history, the Canadian economy is increasingly unable to benefit from surging growth in the United States, as we fall further and further behind our allies to the south.
The Bank of Canada recently downgraded Canada’s forecast GDP growth to 1.2% for 2019, a large drop from the 1.7% they had been predicting previously.
Meanwhile, US GDP surged by 3.2% in the first quarter of 2019, beating analyst forecasts of 2.5% growth.
So, the US is beating forecasts, while Canada’s forecasts get downgraded.
This is costing us jobs and many billions of dollars, as investors look at which country to invest in and see the US as a no-brainer.
And it’s a predictable result of Justin Trudeau’s failing economic policies. His carbon tax, his tax hikes, his destructive regulations, and his decimation of confidence has created a stark contrast with the United States, where the Trump Administration has cut taxes, is not imposing a carbon tax, is reducing regulations, and sending a clear message that Canada is NOT open for business.
This is essential to keep in mind, because while Justin Trudeau likes blaming everyone but himself for Canada’s slowing economy, the reality is that he is too blame. It’s a massive shift from when Canada was managing to grow under the Harper government even when the US economy was weak and the world was in crisis.
Even by just doing nothing, Canada’s economy should be much stronger than it is due to growth in the US. But Trudeau can’t bring himself to do nothing. Instead, he does damage.
Now, with every external factor moving in favour of our economy, we are still weakening because of the choices made by the Trudeau Liberals.
Photos – YouTube