The Canadian banking system, considered the world's healthiest according to The World Economic Forum, was recently announced to have come out of the economic recession. Canada hasn't had a single bailout, bank failure or need for government to interfere with its financial system.
While US banks are leveraged at an average of 26 to 1, Canadian banks only borrow 18 to 1. Unlike much of the rest of the world, Canada has stuck to the tried-and-true rules of banking, borrowing, and risk. It has remained conservative and sensible, and hasn't been tricked into thinking it could beat the markets.
Furthermore, housing is remarkably robust in Canada and instead of having a budget deficit the Canadian economy has run a surplus for the past dozen years and now has cash that can pull it out of any economic drags it may be facing.
Thanks to immigration, Canada is drawing skilled and educated manpower, mainly from Asia. Microsoft even set up a Vancouver research centre specifically to attract "highly skilled people affected by immigration issues in the U.S."
Furthermore, while the Canadian healthcare system comprises only 9.7 percent of the GDP it still outperforms the US system by all measures. As a result, the life expectancy in Canada is 81 compared to the 78 years in the US.
For years car manufacturers have been moving jobs to Canada to avoid the high healthcare costs in the US. Now Ontario is the largest carmaker in North America, even out-producing Michigan.