Quick - - what do you know about the country of Kenya?
That’s the country with the world’s greatest GDP, low inflation and stable employment - - right?
Well, no.
In 2008, the United States had the greatest GDP of any individual country in the world (it came in second behind the 27 nations of the European Union), whereas Kenya produced the world’s 82nd largest GDP. Kenya endured an annual inflation rate of 9.7% in 2008 (current inflation figures for Kenya are unavailable), while the United States recently posted an inflation rate of .1%. And while the United States is currently struggling with an unemployment rate of slightly over 9%, Kenya has suffered for most of this decade with an unemployment rate of roughly 40% (here again, precise, up-to-date figures are unavailable).
From photographs available online, the landscape of Kenya looks beautiful. But economically, Kenya makes for a very ugly picture, whereas the United States, even in the midst of an economic downturn, still looks relatively good.
So why is the President of the United States so committed to reconstructing the American economy with Kenyan-styled policies?
During the last presidential election cycle, I wrote frequently in this column about how candidate Obama packaged inherently communistic economic ideas into his contemporary, and at times inflammatory campaign rhetoric. His famous “Joe The Plummer/Spread The Wealth Around” moment was the least of it. Obama consistently promoted such themes as raising taxes on “the rich,” raising taxes on “excessive” corporate profits, raising taxes on energy, limiting people’s salaries, and redistributing wealth to those whom he believed “deserved” to have it.
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