The Obama Economy on the World Stage

The World Economic Forum puts out annual reports reflecting the quality and freedom of the world’s national economies; their 2012 report is here, and Fox News has a brief summary here.

Here are some of those…highlights…reflective of the performance of the Obama administration’s economic policies.

  • Since 2008, the United States has slid from No 1 in the world in “global competitiveness” to No 7 this year.  Out-ranking us are Switzerland, Singapore, Finland, Sweden, the Netherlands and Germany.
  • We’ve slid from 41st to 54th in “public trust in politicians.”
  • We’ve fallen from 50th to 76th on government regulation.
  • On government debt, though, we’ve not fallen so far; we already were near the bottom: from 97th to 140th.

James Gwartney, Economics Professor at Florida State University has the right of it:

The slide in the global competitiveness report is almost certainly due to … policy-related factors[.]

Yet Democratic Presidential Candidate Barack Obama objects to serious reform.  He and his surrogates spent all of last week castigating those evil Republicans for their proposals that would address this slide, all while proposing nothing of his own.  Other than another cynically nebulous “promise” to cut our deficit [sic] by $4 trillion over the next four years.

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