Countries Compete Head-to-Head in Ultimate Competition: The Global Economy
The United States, Canada, and Mexico team up to be the most economically competitive trade bloc in the world, scoring a B+ on the Scorecard.
The Working Group Visits the U.S.-Canada Border
Recently, the Bush Institute’s North America Competitiveness Working Group convened again to continue its policy work on North American economic integration. The Working Group toured sites in Detroit and Windsor, Canada that show our policy priorities in action in the real world. The Detroit-Windsor area is the busiest commercial land border crossing in North America, handling 31 percent of U.S.-Canada trade carried by truck. Typical traffic includes the automobile industry, where car parts will typically cross the U.S-Canada border as many as six times before the finished vehicle is offered for sale to the public. Thousands of people cross daily as well, including the many Canadian nurses who staff Detroit-area hospitals. Over $100 billion in trade crossed here in 2014. With such a large volume of daily border crossings, reliable and efficient cross-border infrastructure is vital. Detroit-Windsor currently has three main crossings—the tunnel, which hosts primarily p
What Happened to the Issue of Debt?
We should be glad that the annual budget deficit has declined substantially as a percentage of the gross domestic product. The deficit was 2.5 percent of GDP in 2015, as compared to 10 percent in 2009. The GDP comparison matters because it shows whether the deficit is a drag on the economy. A low percentage generally shows it is not. But what we should worry about is that the federal debt continues to go unaddressed. The debt, which is the accumulation of our annual deficits over time, now stands about $19.4 trillion. (You will hear people talk just about the public debt, which is the portion of the debt that is borrowed from the public at large, but does not include money borrowed from the trust funds for Social Security and Medicare. The 19.4 trillion figure includes those government trust fund borrowings.) GOP House Speaker Paul Ryan, R-Wis., continues to warn about the dangers of that large number and the pressures that keep driving it upward. But otherwise the t