Socialism Hasn't Made Canada Richer

Socialism Hasn't Made Canada Richer

Fresh from reporting the latest on Sheriff Joe Arpaio’s investigations into Barack Obama’s birth certificate, the Drudge Report yesterday shocked its readers with an even more shocking shock story: Canadians Now Richer Than Americans. The headline ran beneath an Obama election poster from 2008, emblazoned with the slogan (oh irony!): Progress. The basis for this was a story in U.S. News about a column for Bloomberg View citing a report in the Globe and Mail on a study by Environics Analytics. The study shows that, indeed, as of 2011 the average net worth of households in Canada had pulled ahead of the United States by about $43,000, or 14%, from a deficit of roughly $60,000 five years earlier.

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