To answer your question as to how the new currency will affect the economy, SIMPLE!...[b]We CANADIANS inherit America's record debt [/b] which is in the trillions! Those are the laws of Integrated Monetary Policy. And the way their economy is going...well...we're scre*ed!
I can see how our multi-billion trade with our neighbours to the south affects our economy but I fail to see how having a common currency automatically burdens Canada with their debt? 
That just makes no sense whatsoever! Anymore than the US being saddled with ours...
That's like saying Ireland inherited Italy's debt during their conversion to the euro.
However i can see some growing pains yet the case for the Amero according to Grubel
http://oldfraser.lexi.net/publications/critical_issues/1999/amero/
claims several fiscal benefits for each country.
When we integrate our monetary policy( aka - the heart and soul of a nation) we integrate the debt as well because the Amero’s value will, to a greater extent, be a function/reflection of both the Canadian and the U.S. debt combined. Remember when our dollar was dropping like a rock because our debt was “getting out of control”?... and now the American dollar is experiencing much the same. Also, our economy is relatively much much smaller and we’re going to get swallowed up by the integration. The value of the Amero will reflect the value of the US dollar and debt more so and when that happens our buying power will dramatically be reduced and inflation will go up just like TwoinVallarta said. Thus, Monetary policy will be adjusted accordingly (as a one size fits all adjustment) and suddenly the debt will be our (US & Can) problem especially when they control the money supply as well!
More importantly however (which is what this is all about) is we lose as a nation our independence to adjust our interest rates and adjust all other monetary policies according to Canada's needs. Can you imagine what Canada would be going through right now if we had Bernake controlling Canada the last few years or so?...:s Look at the differences in our monetary decisions the last few years for a clearer picture and examples as to why we need an independent currency and monetary system. A one size fits all policy is not a smart one especially for the little guys!
SAD/SCARRY FACT!!!! : The difference between our monetary system and the one in the U.S. is that one is privately owned an operated (NOT a government owned operation)! The 12 banks of America (privately owned by prominent citizens and operated for a profit) own the Federal reserve which determines what American’s loan payments will be and what the money supply will be. Conflict of interest or what??? There is nothing “Federal” about the reserve. Look in an American phonebook for example and you’ll see Federal reserve in the business section and not the Government section. If you look in our history books, those who privatized the American Central Bank in the early part of the last century also managed to privatize Canada’s as well. However, six months later our politicians realized what a scam it was and they quickly went back to our current system! So that’s what the amero is also really about. Privatizing our central bank and losing our control. That’s what will happen to our public monetary system. But in today's world, the politicians have been bought off and they don’t give a ****. Why will privatization suddently be good for canada now if it wasn't 70-80 years ago? Bye bye Canada .
It's just the same tricks being pulled over and over again. These people aren't geniuses by any stretch of the imagination.
You can vote PC, Liberal, NDP, Green or even Marxist next election, but it's all the same poop just in a different pile;).
People need to start looking at the world from a more critical perspective and to understand that very often things are not what the population at large think they are. And as far as the tube goes, it’s not the most accurate source of information (but yet the only source of information for most) which is why we’re all oblivious to many issues today.
