Ezra Levant on how Canada can inoculate ourselves from the USA's economic decline

Ezra Levant has 8 suggestions.  However, our destiny is tied to the USA ... there's no getting away from it.  If  the USA faces deep economic gloom, so will we.  Inoculating ourselves might help for just a little bit longer, but not in the long run.  We are seeing the decline of America and the rise of  China and India....let's remove the blinders from our eyes and face facts.

 ...Barack Obama has been the worst president for the U.S. economy since Jimmy Carter. But Americans chose another four years of that. 

What should Canada do to protect ourselves from America’s continuing economic decline? Here are eight things: 

1. Pay down Canada’s government debt. The U.S. is $16 trillion in debt, and is racking up another trillion a year. Its credit rating has been downgraded, and surely will be again. That means interest rates will rise and borrowing will be more expensive. It’s a vicious circle. We’ve got to get out of that whirlpool ourselves. Our deficit is on track to be eliminated by next year. We’ve got to keep running a surplus, and retire our debt.

2. Obama ran a class warfare campaign to soak the rich. Too bad, because the rich are the ones starting businesses and paying the lion’s share of taxes. More practically, as both John F. Kennedy and Ronald Reagan proved, lower tax rates actually increase tax revenues, as economic activity booms. Canada already has lower corporate tax rates than America. We need to keep taxes low to stimulate economic activity. 

3. Low taxes could also start a northward “brain drain.” Let’s recruit the best and brightest from America to immigrate to Canada. Immigration Minister Jason Kenney recently returned from a similar trip to Ireland. Why not add on new recruiting trips to Silicon Valley, the Boston-area universities, New York and other pools of talent who might prefer our stronger economy and quality of life? 

4. As a country of just 34 million people, we need more human capital. But we need more financial capital, too. Just to develop our oilsands could require $100 billion — more than Canadians could invest. What a perfect time to steer foreign investors away from riskier.........