Is it too high a standard for the United States to try to keep up with the Canadian economy ?
Index Mundi keeps track of the GDP for countries based on the average real exchange rate in that year. Index Mundi has that information for the United States and for Canada.
The GDP and GDP growth for 5 Year Intervals for the last 30 years
USA 5yr growth Canada 5 year GDP growth 1980 2788.2 268.9 1985 4217.5 51% 355.7 32% 1990 5800.5 38% 582.7 64% 1995 7414.6 28% 590.5 1.3% 2000 9951.5 34% 724.9 23% 2005 12623.0 27% 1133.7 56% 2010 14526.6 15% 1577.0 39%
USA Canada Last 30 yrs 421% 487% Last 25 yrs 244% 343% Last 20 yrs 150% 171% Last 15 yrs 96% 167% Last 10 yrs 46% 118% Last 5 yrs 15% 39%If the USA kept up with Canada the GDP in 2010 would have been (instead of 14.5 trillion)
Last 30 yrs 16.35 trillion (1.8 trillion more) Last 25 yrs 18.7 trillion (4.2 trillion more) Last 20 yrs 15.7 trillion (1.2 trillion more) Last 15 yrs 19.8 trillion (5.3 trillion more) Last 10 yrs 21.6 trillion (7.1 trillion more) Last 5 yrs 17.6 trillion (3.1 trillion more)
The Canadian dollar was basically on par with the US dollar in 2011.
Canada's GDP in 2011 was $1.72 trillion.
The US had 15.1 trillion in GDP at the end of 2011
Canada moved up 8.9% on a real GDP basis and the US went up 3.9%. So Canada had another 5% increase over the US in 2011.
There are several things that the US could do to improve its economy which I have listed in another article.
Improvements to infrastructure (worth about 150 billion per year incrementally for each year)
Improvements to communication and broadband (worth about $375 billion to the current economy, improvement can be repeated)
Improvements to education (worth about 230 billion per year incrementally assuming a catch up over ten years)
Improvements to energy (worth about 100 billion per year incrementally)
Taxes and Pensions can also be fixed.
Canada only spends 15.9% GDP on federal government vs the US which spends 24% now.
However, the fixes listed here can be done a few at a time with or without tax and pension reform.
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Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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