Great idea, but why not here?
(CNSNews.com) – Speaking to a group of foreign ministers from Arab nations at the Waldorf Astoria Hotel in New York on Friday, Secretary of State Hillary Clinton expressed support for loosening regulations, particularly on small businesses, because “too many people still can’t find jobs”–in Tunisia, Egypt and Libya.
In Libya, according to an estimate published in May by the Organization for Economic Co-Operation and Development [OECD], real Gross Domestic Product is expected to grow this year at a rate of 20.1 percent—or about 15 times the 1.3 percent annualized rate at which real GDP grew in the United States in the second quarter of this year. The OECD further estimated that Libya’s real GDP would grow by another 9.5 percent next year.
Libya, the OECD estimated, will have budget surplus equal to 13.6 percent of GDP this year. So far, this fiscal year, the debt of the U.S. government has increased by more than $1.2 trillion.
“In Tunisia, Egypt, and Libya, people rose up against their dictators because they were fed up with governments that served the interests of a few at the expense of everyone else,” said Clinton. “But economic and social challenges did not disappear with the dictators. Too many people still can’t find jobs, and young and growing populations crave a sense of opportunity and self-determination.