Does the US have too much debt? Here is some food for thought…
The United States is considering instituting some socialist policies—free health care for all, free college for all, and strict government regulation on our freedoms (such as our current freedom to travel when and where we choose).
But would it be wise for us to create these policies for all Americans now?
Consider these countries that have instituted similar socialist policies.
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Russia
In Russia, socialist policies began after Tsar Nicholas II lost his power during the February Revolution. The Provisional Government was established under Prince Lvov. However, the Bolsheviks refused to accept this form of government and revolted in October 1917. The Bolsheviks, under the rule of Vladimir Lenin, formed the Russia Soviet Federative Socialist Republic.
Four years prior to the 1917 revolt, Russia had the highest foreign debt in the world. Then, in 1914, Russia entered World War I and spent a catastrophic amount of money on this venture. Between 1914 and 1917, Russian debt soared to 3.5 times what it had been in the past. Too much debt overwhelmed this country.
The Russian government as it was known at the time collapsed, and Russia changed its political system to socialism.
On December 25, 1991, the Soviet flag flew over the Kremlin in Moscow for the last time. At that time, the Russian people were literally starving to death. All but one of its 15 republics, Kazahstan, defected from the Soviet Union and it no longer existed.
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Venezuela
Eighty-two years later, in 1999, Venezuela developed socialist policies.
From the 1950’s to the early 1980’s, the this country’s economy experienced a steady growth, and this fact attracted many immigrants. Then Venezuela had the highest standard of living of all the Latin American countries. Its economy thrived due to its production of oil.
Unfortunately, oil prices collapsed during the 1980’s. Inflation peaked at eighty-four percent in 1989 and ninety-nine percent in 1996, three years prior to Hugo Chavez taking office and the country’s institution of socialist policies. The people wanted everything for free, and Chavez gave them what they wanted.
Three factors doomed this now-socialist country. When it became socialist, it was already overwhelmed with too much debt. Its socialist policies increased its debt. Additionally, the overtaxed wealthy people left the country to deal with its financial problems without their monetary help.
Now the people of this Latin American country are literally starving to death. They eat their pets, stray cats, and other stray animals to survive. They lack medicine and basic necessities such as toilet paper. Even if those who have enough money to buy a roll of toilet paper cannot do so—there is none to buy.
In 2006, the Bolivians elected Evo Morales as their president. Morales instituted socialist policies, but he also raised minimum wages and nationalized industries such as oil, electricity, and telecommunications.
This president’s strategies succeeded. By 2017, Bolivia was forty-two percent richer than when Morales took office.
When Morales became president, Bolivia had very little debt.
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The Nordic countries
Denmark, Iceland, Finland, and Norway, and Sweden all have socialist policies but remain democratic. In spite of their socialist practices, all five of these countries rank in the top ten happiest countries.
These countries were debt-free when they instituted their socialist policies.
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The United States, now considering socialist policies, is deeply in debt. Should we institute socialist policies now or wait until we get out of debt?
We have too much debt and must resolve our debt first! If we don’t, we will probably end up like Russia and Venezuela instead of Bolivia and the Nordic countries.
Let the encouraging words in these bobbiejrae posts help you
soar like an eagle above life’s storms.
What if President Obama’s Mother hadn’t allowed him to live?
Here is one thing we need to do for our children’s sake…
Have you ever studied these basic topics?
This would absolutely stink!