The higher the percent of government spending as part of the Gross Domestic Product (GDP) for various countries, the worse the recession has been over the past one year.
Here are the facts for leading industrialized nations:
1. Sweden, France, Italy, Germany and the United Kingdom are countries where government spending is over 41% of GDP and each of these 5 countries had a decline in GDP; the average decline in GDP in these countries was -5.3% in the latest 4 quarters.
2. Canada, Spain, United States, Japan and Switzerland are countries where government spending is less than 40% but more than 35% of GDP and each of these 5 countries had a decline in GDP; the average decline in GDP in these countries was -3.6% in the latest 4 quarters.
3. Australia, China and India are countries where the government spending is less than 35% but more than 20% of GDP and each of these 3 countries had an increase in GDP; the average increase in GDP in these countries was +4.7% in the last 4 quarters.
What does Obama and the leftist Democrats want to do?
They want to greatly increase the percent of GDP spent by the government with measures such as huge deficit budgets (with pork spending), the Stimulus Bill (with more pork spending), various bank and industry bailouts (from Bank of America to AIG to General Motors and much more), and with the biggest economic fiasco of all, ObamaCare.
This is the "Change You Can Believe In".
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