It would have been one thing if all the money we'd poured overseas had given us some benefit, but has it? Doing a study that cost millions of dollars to find out why Chinese prostitutes drink to excess? Millions of dollars to find out why men in Africa don't wash their genitalia after having had sex? Etc.
Here's what Rush had to say.
Story #1: US Falls to Fifth Ranked Economic Power
RUSH: You tell me there's no war going on against the private sector. State-Controlled Associated Press: "The US Has Tumbled Further -- The U.S. has tumbled further down a global ranking of the world's most competitive economies, landing at fifth place because of its huge deficits and declining public faith in government, a global economic group said Wednesday. The announcement by the World Economic Forum was the latest bad news for the Obama administration..." It isn't bad news for the regime! This is what the regime wants.
No less a personage than Shelby Steele recently pointed out we have a president who was raised and educated with the belief that this country's greatness was illegitimate, that it was built on the backs of the poor with resources stolen from everywhere else on earth. So the fact that we're now being ranked fifth in global competitiveness in our economy? Pop the champagne corks in the Oval Orifice! "Switzerland held onto the top spot for the third consecutive year in the annual ranking by the Geneva-based [World Economic] forum, which is best known for its exclusive meeting of luminaries in Davos, Switzerland, each January." By the way, you know, I don't have any love for this group, and I'm not necessarily trusting what this bunch has to say, but that doesn't matter: It's out there in the news. So that's that.
From MSNBC.com:
GENEVA — The U.S. has tumbled further down a global ranking of the world's most competitive economies, landing at fifth place because of its huge deficits and declining public faith in government, a global economic group said Wednesday.
The announcement by the World Economic Forum was the latest bad news for the Obama administration, which has been struggling to boost the sinking U.S. economy and lower an unemployment rate of more than 9 percent.
Switzerland held onto the top spot for the third consecutive year in the annual ranking by the Geneva-based forum, which is best known for its exclusive meeting of luminaries in Davos, Switzerland, each January.
Singapore moved up to second place, bumping Sweden down to third. Finland moved up to fourth place, from seventh last year. The U.S. was in fourth place last year, after falling from No. 1 in 2008.
The rankings, which the forum has issued for more than three decades, are based on economic data and a survey of 15,000 business executives.
The forum praised the U.S. for its productivity, highly sophisticated and innovative companies, excellent universities and flexible labor market. But it also cited "a number of escalating weaknesses" such as rising government debt and declining public faith in political leaders and corporate ethics.
The results of a survey of 142 nations comes a day before Obama is preparing to tackle jobs issues in a speech to the U.S. Congress, and just as U.S. polls show a clear majority of those surveyed say they disapprove of the way Obama is handling the economy.
Switzerland held onto its top ranking, the forum said, because of "continuing strong performance across the board" with innovation, technological readiness, even-handed regulation and having one of the world's most stable economic environments.
Germany, Europe's economic powerhouse, was sixth, followed by the Netherlands and Denmark. Japan came in ninth, and Britain was 10th. France was 18th, and Greece, saddled with debt, fell to 90th.
The report looked at broader trends: While the U.S. slipped, emerging markets gained traction. China took 26th place, highest among major emerging economies; Brazil was 53rd; India was 56th; and Russia was 66th.
"Fiscal imbalances that have been building up around the world are really a danger to future competitiveness, in terms of the ability of countries to invest in those things that will be very important for competitiveness going forward, things like education, infrastructure and so on," said Jennifer Blanke, an economist with the forum.
I'm surprised that China wasn't ranked number 1.
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