"[I]n the midst of the worst global downturn since the Depression, Norway’s economy grew last year by just under 3 percent. The government enjoys a budget surplus of 11 percent and its ledger is entirely free of debt.
By comparison, the United States is expected to chalk up a fiscal deficit this year equal to 12.9 percent of its gross domestic product and push its total debt to $11 trillion, or 65 percent of the size of its economy."
Thursday, May 14, 2009
You hear it said everyday by the Republi-cons, socialism will bankrupt the country. But maybe it ain't true. Read The New York Times, Thriving Norway Provides an Economics Lesson, which points out an interesting fact: