Lately it seems like all we hear is bad news about our country. We constantly hear that we are slowly becoming a second-rate superpower and that our best days are behind us. Well, let's take a few moments to review some of the great strengths of our country and our economy…
Did you know that the household net worth of the United States is projected at $55 trillion dollars? When you add in all of our public and military assets, the value of the country is projected at $200 trillion! We have nearly $11 trillion in cash and money assets and our cost to borrow money is at historically low rates with ten year borrowing costs at just over 2%. Our total debt is just over $14 trillion, which represents only 7% of our total net worth.
Even though the United States represents only 4% of the world’s total population, we will produce 21% of the planet’s total wealth output for 2011. All the countries of the world combine to produce $70 Trillion dollars of wealth and the US alone produces over $14 Trillion! Our next closest competitor, China produces roughly 40% of that amount. Japan, Germany and France combined produce 25% less than the US. The United Kingdom, Brazil and Italy combine to produce roughly half of the wealth created by the US. We have an incredibly strong economy!
We are the number one country in industrial output in the world and produce 50% more than China. We are currently tied with China as the largest Manufacturing producers in the world. We are number one in Maritime trading, as big as China and Japan combined! We are the number three exporter in the world behind the 13 member European community and only barely behind China. We are number 3 in Agricultural Output behind China and India, even though their populations combined are 8 times larger than the US. The free market system out-produces every other form of economy and has made the US the number one generator of wealth on a per capita basis.
What are some of the things we make? We are #1 in Natural Gas, #2 in Coal, #3 in Oil. This makes us #2 in the world in combined energy production! We are the #2 largest producer of Gold and Copper. We are #3 in Lead and Platinum and #4 in Aluminum and Zinc. We are the world’s #1 producer of coarse grains.
We lead the world in Foreign Direct Investment. The nations of the world pour their money into the United States because they recognize the value of investing in a democratic country with free and open markets. We rank #1 in the world on the innovation index and # 2 in worldwide patents. Even with one of the highest corporate tax rates in the world, we are still ranked #4 in overall competitiveness! More than 50% of the world’s top Universities are here in the US and we are number one in the entire world in Tourism.
Those who believe that our best days are behind us and that we are facing a slow, inevitable decline do not understand the greatness of our nation. Throughout our history, we have faced many hardships, dangers and challenges but because we are free nation, we have overcome them all. The United States of America is great because of its people. Our ability to adapt, to overcome and meet any challenge has made us the greatest producer of wealth in the history of the world. We have helped more people overcome oppression and taste real freedom than all the countries of the world combined.
Don’t let those who want to be re-elected fill you with fear. As former President Ronald Reagan once said, “America is a shining city upon a hill whose beacon light guides freedom-loving people everywhere.” Be proud to be a part of these Amazing United States of America!
Source for Economic Data: “The Economist, Pocket World in Figures 2011 Edition.”
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