As our national debt officially crossed the 18 trillion dollar mark a week or so ago, another sad reality has become fact for as 2014 ends our beloved America has now and possibly forever lost its claim as the world’s largest economic super power. China will enter center stage in 2015 as number one and will likely remain number one for a very, very, long time…if NOT forever.
Another sad reminder of an administration run amok.
And all this happened while we’ve been media ‘spoon-fed,’ amongst other things, a fabricated ‘for profit’ race war scenario initiated by the likes of Barack HUSSEIN Obama and crew…’spoon-fed’ to keep us from focusing on a situation that could have serious economic ramifications for generations to come as it directly affects the still dismal job numbers. According to the Economic Policy Institute, we are losing half a million jobs to China every year, hence we do NOT produce as much as we used to because the workforce to do so is simply NOT there. And this wake-up call to kick-start our economy was indeed sounded in time to reverse this downward trend but was ignored by the man occupying the White House, showing once again his true intention to economically implode America from within. And this dropping to number two is especially troublesome at this point in time…at a time when the world is as volatile a place as it is…because history has proven time and again that political and military power has always depended upon and been tied into a country’s economic strength and political stability.
And right now thanks to Obama’s failed politics and policies we have neither the economic strength nor the political stability to hold that coveted top economic position. And know that Obama knew back in 2011 that China’s economy was already 87% of ours…and yet he did NOTHING to move our economic recovery forward beyond that of a mere crawl. And that was in addition to the Democrats wanting to raise our already highest corporate tax rate of any nation.
And that is one first place position that NO nation wants to be in if it’s serious in wanting companies to do or emanate business from within their country.
So as I said NOTHING of substance has been done as our national debt increased to reach an absolutely mind-boggling $18 trillion and counting (and NEVER forget that during Obama’s first term the federal government accumulated more debt than it did under the first 42 U.S presidents combined). And lest we forget that in 2011…for the first time since 1941…we lost our top-tier AAA-credit rating (which raised borrowing costs for the U.S. government, companies, and consumers) under this man’s lack of stewardship (S&P had called for $4 trillion in fiscal savings as an acceptable ‘down payment’ for fixing America’s finances and retain our AAA rating while Obama offered to reduce the deficit by only $2.1 trillion over 10 years), in addition to the fact that the U.S. has fallen in the all-important global economic competitiveness rankings compiled by the World Economic Forum for four years in a row.
And now as if rubbing salt into an open wound, last week The International Monetary Fund released the newest numbers for the world economy and we…the greatest nation the world has ever known…did indeed officially drop to number two. And while just a decade ago the U.S. produced nearly three times as many goods and services as China, now its China…communist China…who last year had already surpassed us in terms of global trade…who now surpasses us in actual producing power…producing power to the tune of China garnering $17.6 trillion this year as opposed to $17.4 trillion for the U.S.
And this figure translates into China accounting for 16.5% of the global economy when measured in ‘real purchasing-power’ (the number of goods or services that can be purchased with a unit of currency), as opposed to our 16.3% of ‘real purchasing power’. And China accomplished this by bringing their gross domestic product calculations in line with international standards as Obama looked away, ignoring the warnings of his economic advisers that this could indeed happen. In fact, at the beginning of this year before it became reality, the World Bank’s International Comparison Program came out with new numbers of their own showing that China would become the world’s largest economy much sooner than the 2019 date that was originally projected…much sooner thanks to the Obama stagnating U.S. economic recovery with its declining buying power combined with the fact that the U.S. does NOT produce as much as it once did.
And sadly, that sooner has indeed come to pass as our economy…the world’s largest since 1872 when it overtook the economy of Great Britain…slips to number two. But like the old TV commercials where Avis tries harder and overtakes Hertz in the car rental business, try as we might it will most likely now be impossible to overtake China’s ever-growing, ever expanding economy coupled with its industrial growth.
And guess who’s number three and moving ever closer to the U.S entering 2015 according to the World Bank rankings…India…as our neighbor to the north…once in the top tier Canada…moves down to 15th place. Canada used to have a top-10 economy, thus securing membership in the G7, but a number of developing countries have moved ahead of them in recent years, including Brazil (#8), South Korea (#12), Japan (#4), and the afore mentioned India NOT to mention Vladimir Putin’s Russia (#6) as well.
The Russian Bear and Russia itself might indeed get the last laugh both as a super-power and as an economic force to reckoned with as long as Obama is the president of the U.S.
But the question that must be answered knowing all the numbers and facts stated is can we…the United States of America…ever regain our position as the world’s top economy. I believe it will be hard…very hard…but that we can do it if a number of things are done. First, taxes must be lowered…as in initiating flat-rate taxes…which in turn will promote positive economic growth and allow for jobs to be created. Then, the federal government must show major restraint in spending and start to pay down our current out-of-control debt, followed with accruing treasure to back our dollar so that it remains strong. Lastly, free trade must be encouraged with the current regulations placed on companies…both foreign and domestic…being pared down and held to a bare minimum because many revenue generating job creating companies…both large and small…are being over regulated right out of business.
And lest we forget the most important factor in gaining back our number one economic status…Barack HUSSEIN Obama must be led out of the White House in handcuffs… need I say more.
Today, Wednesday, December 10th, on RIGHT SIDE PATRIOTS from 2 to 4pm EST on CPR Worldwide Media, Craig and Diane will discuss the release of the CIA report just to make the ‘alphabets’ happy, the USA becoming the world’s #2 economy, and Jonathan Gruber testifying before the House Committee on ObamaCare. Hope you can join us…http://cprworldwidemedia.com/live-radio/
and chat with live shows at