Friday, March 20, 2009

Feeling small

It's mildly depressing that the entire economy of Canada ($1.3 trillion) fits inside the US budget deficit ($1.7 trillion USD). It's not even close, there's hundreds of billions left over to chew up half of Africa or Sweden or something.

Makes it really hard to argue for coordinated international fiscal stimulus - if Canada went for a stimulus plan far more ambitious than pretty much anyone is calling for, it would barely constitute a rounding error in the US deficit.

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