Please turn on JavaScript

Brooks Wilson's Economics Blog: Obama Like Putin? Not!

Thursday, June 11, 2009

Obama Like Putin? Not!

Laurie Kellman, an AP writer, reports in "No. 2 House Republican compares Obama to Putin," that
The No. 2 Republican in the House on Thursday compared President Barack Obama's plans for the auto industry to the policies of Russian Prime Minister Vladimir Putin, saying the White House has stripped credit holders of rights and given them to Democratic allies.

"They said, 'Set aside the rule of law, let's strip secured creditors, bondholders, of their rights. Take them away outside of the bankruptcy process and give them to the political cronies and the auto workers' unions," Rep. Eric Cantor, R-Va., said in an interview with The Associated Press.

"It's almost like looking at Putin's Russia," added Canton [sic], the GOP's House whip. "You want to reward your political friends at the expense of the certainty of law?"
While I do not like President Obama's policies named by Rep. Cantor, they are a order of magnitude better than Prime Minister Putin's.  According to the Heritage Foundation's "Index of Economic Freedom World Rankings," the United States ranked 6th best in the world prior to the Obama presidency.  Russian ranked 146th.  While the Obama administration's policies will take us in the wrong direction for economic freedom, they will be significantly above Russia's.  Freedom House ranks political rights and civil liberties on a scale from a best of 1 to a worst of 7.  In 2008, the United States earned a 1 in political rights and civil liberties.  I don't believe that those scores will change during the Obama presidency.  Russian earned 6 in political rights and a 5 in civil liberties.  Let's keep the debate real.

Permanent Link


  1. Dr. Wilson,
    I completely agree. Honestly, sometimes I think politicians just want attention rather than to actually help our economy.
    Your student,
    Lindsey Scott

  2. Kayla Harding19/6/09 1:18 PM

    who's to say that Obama administrations policies will take us in the wrong direction for economic freedom? Some politicians may have their differences than others but it does not mean its for the wrong reasons. Some have ups and all have downs but I think they have their strong points and like to focus on what they thinks best, not just for them but for the economy as well.

    Your student,
    Kayla Harding

  3. Rob Ekwerekwu22/6/09 2:23 PM

    With Change comes Criticism. Many politicians will proclaim something totally outlandish to try and be different. His claim might be relevant to some people but when his plan is put into action: 1. will it work? 2. will it be criticized like he is doing now? ... Obama is doing what this economy has been asking for for years and I say we stand by him and his administration and support; not criticize.