Apparently the Economist is now deeming that Canada is cool. But they still have some bones to pick at:

Still, 'there are some big things that Canada continues to get wrong, and other big things that could go wrong without preventive action,' the Economist warns.
'In general, Canada still taxes too much, invests too little and enjoys a free ride in defence from the United States.'
The federal government has balanced its books largely by passing problems to the provinces, 'whose finances are poised to unravel,' it notes.

I'm not sure how Canada exactly gets a free ride on defense. Perhaps they'd like the whole country to set itself adrift in the ocean, losing it's undefended border? As for passing financial problems to the provinces, isn't that precisely what's happening right now in the US?