DIVERGENT VIEWS ON THE ECONOMY

Jan 21, 2015

By Andy Johnson

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U.S President Barack Obama is crediting a growing economy, shrinking deficits and booming energy production as proof the U.S. has turned the corner on the recession. The admission came Tuesday night during the president’s state of the Union speech delivered amid numerous signs that the economic recovery is taking hold. This includes a 5.6 per cent unemployment rate, much cheaper gas prices and greater consumer confidence. However, north of the 49th parallel, it is not so rosy if you listen to Liberal leader Justin Trudeau. He says a prime minister needs to be reassuring and able to create confidence in consumers and investors. He points at the delay in delivering the next federal budget as proof the Conservatives and Prime Minister Harper have no plan B since oil prices tanked. The Conference Board of Canada estimated Tuesday the drop in oil prices will drain 4.3-billion dollars out of federal revenues this year.

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