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Canada was the only G7 nation to run a surplus last year.
Following 27 consecutive years of deficits, the Liberals balanced the budget in 1997-1998 and have run eight consecutive surpluses since.
While the U.S. and U.K. balanced their budgets by the late nineties, they're both back in the red.
Under the Liberals, Canada moved ..... to first in terms of the fiscal performance of the club of wealthy industrialized nations.
We're doing better than the U.S., France, Germany, Italy, Japan and the U.K.
"Canada has been one of the top economic performers among industrial countries over the last decade," writes Kevin Lynch, executive director of the International Monetary Fund in Washington, D.C.
Titled The Virtuous Cycle: The Canadian Experience in a G7 Context, Lynch's piece documents Canada's remarkable fiscal performance and asserts this country has lessons to teach other G7 members.
Canadians again head the pack on per capita economic growth from 1995 to 2004
Inflation averaged a tolerable two per cent between 1995 and 2004.
Canadians rank second only to Americans in 2004 earnings, ahead of all other G7 residents.
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