Venezuela Is a Ticking Time Bomb

Over the last two decades, the now-deceased Hugo Chavez and his handpicked successor, President Nicolas Maduro, have wreaked havoc in Venezuela. Socialist economic policies and government corruption have destroyed a once-thriving economy sitting on the world’s largest oil reserves. For the past 21 years, The Heritage Foundation has published its annual Index of Economic Freedom, which looks at the economic freedom of countries throughout the world. In that period of time, Venezuela’s score has declined the most out of any country, going from 59.8 to 27.0 (on a scale of 1-100). It is now in second-to-last place, right behind Cuba and better only than North Korea. More…