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How Obama Is Turning America into Venezuela.
(by Daniel Greenfield).
Chavez died with an estimated net worth of 2 billion dollars making him the 4th richest man in Venezuela and the 49th richest man in Latin America. While the Bolivarian Spartacus lined his pockets with oil money, Venezuela’s middle-class was struggling to get by in a country where the private sector had imploded. Around the same time that Comrade Hugo was launching the third phase of his Bolivarian Revolution, inflation had decreased household income 8.8 percent while consumer goods prices increased 27 percent. On his deathbed, Hugo Chavez devalued his country’s currency for the fifth time by 32 percent, after tripling the deficit during his previous term when the national debt had increased by 90 percent. From 2008 to 2011, Chavez’s oil-rich government increased the debt by nearly 50 billion in a country of less than 30 million. That same year, The Economist speculated that Venezuela might go bankrupt.The dead tyrant leaves behind the lowest GDP growth rate and highest inflation rate in Latin America. He leaves behind an economy where more than half the population depends on government benefits or government jobs. He leaves behind a giant pile of debt for the people and 2 billion dollars in misappropriated oil money for his heirs.But we don’t need to look to a leftist banana republic south of the border to see how profitable fighting for the poor can be.
OBAMA'S USING THE SAME ROAD MAP...
GO FIGURE IT OUT!
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