The U.S. fiscal solution – follow Canada’s lead...by David Rosenberg

David A. Rosenberg Chief Economist & Strategist

Market Musings & Data Deciphering A Special Report from Dave May 25, 2011 As concerns over the mushrooming U.S. deficit and debt levels continue to mount, we are sending today our recent Special Report entitled The U.S. fiscal solution – follow Canada’s lead. Focusing on Canada’s successful 1990s battle to rein in its deficit and debt and bring itself back to a good fiscal place, the report covers how the U.S. in particular could benefit from following Canada’s example as a way to get its balance sheet back in order. As the report highlights, the U.S. will likely have years of painful retrenchment and tax increases, which will be contractionary in nature. The Canadian experience shows that fiscal recklessness can indeed morph into fiscal integrity, assuming that the political will is there. We hope you enjoy the piece. Should you wish to subscribe to my daily musings please visit www.gluskinsheff.com/research.aspx. Best regards, David Rosenberg

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