The World Economic Forum has released its annual ranking of the world’s most competitive economies, and the news for our incomplete President is not good. America slipped two spots in a single year in the WEF’s estimation, from Number Five to Number Seven, marking four straight years of decline.
According to CNBC, “A lack of macroeconomic stability, the business community’s continued mistrust of the government and concerns over its fiscal health were some of the reasons for the downgrade.” Deadlock over reducing the federal deficit – a subject upon which Obama and the Democrats are mindlessly intransigent – was cited as a major factor. Declining productivity, a hallmark of our under-employed Food Stamp Nation, also played a role.
In other words, failures of the massive government Democrats worship account entirely for our decline. You didn’t build that, American entrepreneurs. Someone else made that happen.
The WEF rates 144 countries, so placing anywhere in the Top Ten is nice, but we should be Number One, not plunging toward Number Eight, on our way out of the hit list. The American economy remains larger and more powerful than the six nations listed ahead of us, combined… but it shouldn’t come as news to anyone keeping an eye on the financial headlines that we’re not attracting investment and growing, as we should be.
The vast size of the American economy and potential workforce should be a competitive asset, but liberal policies have turned them into a liability. Under Obama, American poverty rates have climbed over 15 percent, median family income is down 7.3 percent, and food stamp enrollment just reached a historic high of 47 million people… which is larger than the total population of the five most competitive nations in the WEF survey combined.