Obama's Health Care Quackery

Reason reports:

Contrary to popular perception, even though America is at the epicenter of the financial crisis, it has suffered less than its industrialized peers in terms of economic growth. According to the latest International Monetary Fund figures two weeks ago, the U.S. economy actually grew 1.1 percent last year even as Japan's shrank by 0.6 percent. France and England's both grew 0.7 percent, and Canada's only 0.5 percent—or less than half of America's. Only Germany did slightly better at 1.3 percent.

What's more, despite all the gloom and doom about the American economy, IMF expects its gross domestic product to shrink 2.8 percent this year compared to anywhere between 3 percent (France) to 6.2 percent (Japan) for these other economies. (Figures from the U.S. since the IMF projections suggest that the U.S. economy contracted more than expected in the first quarter of this year but it is not yet clear how the other countries performed.)

Not only is America hurting relatively less now, its economic performance in the prior 18 years—from 1990 to 2007—has also been visibly better than everybody else's. Calculations based on Department of Agriculture data show that America's GDP grew at an average annual rate of 3 percent during this period. By contrast, Canada's grew 2.88 percent; England's 2.3 percent; France's 1.92 percent; Japan's 1.74 percent and Germany's 1.59 percent.

You'll want to read the whole article.