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Istook1071 A Lesson from Our Neighbor to the North

Recorded on July 20, 2012

From The Heritage Foundation, I'm Ernest Istook.

A Canadian study claims the average Canadian household is now worth more than the average U.S. Household. The report calculates an average $363-thousand dollar net worth for a typical Canadian family compared to $320-thousand here in the USA.

Yes, our real estate collapse robbed major net worth from American families. But there's more to this story: Economic freedom is expanding in Canada but shrinking in the U.S.

By downsizing government, lowering corporate taxes and not going hog-wild on regulations (like America sadly has done), Canada restored vitality. Unemployment went down.

In the annual Index of Economic Freedom, Canada now is ranked as having the most economic freedom of any place in North America.

Isn't it time for the U.S. to recognize that economic freedom creates jobs and opportunities? But it's big government that restricts that growth.

From The Heritage Foundation, I'm Ernest Istook.