The U.S. will become the world’s number two economy, falling behind China soon.
That’s right, a semi-communist nation that holds a one-child policy and disrespects basic human rights has surpassed the greatest nation on Earth. China’s purchasing power by the end of 2014 will be 16.48 % while the U.S. will make up 16.28%, according to the IMF.
This has more to do with the failures of the current administration than anything else. Let’s look back on just how awful Obamanomics has been for this country:
The United States’ credit rating was downgraded.
The Labor Force Participation Rate is the lowest it’s been in 36 years, with more than a third of Americans out of the workforce.
The Fed’s easy money policy is creating another bubble before our very eyes, pumping up the stock market on low-interest rates.
The U.S. has the highest corporate tax rate in the developed world at 35%.
And just for fun, let’s take a look at President Reagan’s economic reforms:
Reagan inherited a worse economy.
Dealt with stagflation – high unemployment and inflation.
When you take all of this into consideration, it’s clear that the Obama presidency has been a failure on both the domestic and foreign fronts. Mr. Obama has done nothing to turn around this nation’s economy, he’s only made things worse. And now China is projected to surpass us in the coming year, because we couldn’t get our act together. Accountability, something this President doesn’t like, starts at the top.
Mr. President…you can’t hide behind the media this time.