Wednesday, 27 July 2011

How the U.S. debt crisis is affecting Canada's Economy

As an August 2nd deadline looms, a decision by the U.S to raise the debt ceiling is at a stalemate. It has to pay $23 billion  in social assistance for the elderly and disabled on August 3rd and $90 billion for Treasury bonds that mature on August 4th. Markets remain jittery as the world waits for the U.S. Government to make a decision. So how does this affect Canada? Our dollar is trading above $1.06 and is threatening to derail our strong recovery. I was a guest on Jerry Agar's show on NEWSTALK 1010 this morning to talk about the potential risk Canada faces from the U.S. debt crisis. 

Jerry Agar can be heard every weekday morning on NEWSTALK 1010 in Toronto starting at 9:00 AM.

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