Nicaragua Too Poor to be Socialist
While the author admits this idea comes from scribbles on a cocktail napkin at Rancho Santana rather than a serious study, he does make some good points. It is from the Australian edition of The Daily Reckoning and looks at Nicaragua's economy vs. just the US food stamp program.
With most of our readers in the US, it is a useful data point for those who are concerned that Nicaragua is too Socialist to agree with their political views.
Last year, the Supplemental Nutrition Assistance Program (SNAP) - i.e. food stamp program - in the United States spent $7.4 billion more than it did the year before. $7.4 billion happens to be almost identical to the entire GDP of Nicaragua, a nation of 5.9 million inhabitants.
SNAP used its additional $7.4 billion to feed 4.4 million of America's poorest citizens. Meanwhile, all 5.9 million Nicaraguans - rich and poor alike - managed to "live on" $7.4 billion.