"Wealthiest Nation on Earth"? Brunei Objects! - W.C. Varones

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8.21.2009

"Wealthiest Nation on Earth"? Brunei Objects!


Trying to convince religious leaders to support his nationalized health care bill, Obama used lofty language about our "moral obligations", etc. He added,

"In the wealthiest nation on Earth, we are neglecting to live out that call.” -Barak Obama, 8/19/09

What measurement is he using when he calls us the wealthiest nation? What makes him think we are "wealthy"?

-Is he talking about the escalating rate of mortgage delinquencies, as cited here?
-Or maybe the current state of our Social Security fund?
-Or was he referring to the fact that the United States' Total Debt Obligations, at $78 Trillion, exceeds the TOTAL Global GDP?

Unfortunately for MaoBama, we do indeed count debt obligations when assessing net worth. Is now the right time to point out that "wealthiest" does not mean the same thing as "wealthy"?
One could argue that the nations of Brunei and Palau are wealthier (see CIA World Factbook chart of nations' external debts).

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