(WND)—U.S. Sen. Rand Paul, R-Ky., is warning that Texas is about to become Venezuela, the old socialist Venezuela that collapsed.
Actually, President Donald Trump has said several times that Venezuela, now, could become the 51st U.S. state because of its $40 trillion in oil wealth and recent U.S. control over its oil sector.
He said Venezuela “will become a prosperous country … .”
That is now, of course, after the U.S. intervened, capturing socialist President Nicolas Maduro and bringing him to the United States for prosecution, and seeing a replacement installed.
Under socialism, Venezuela’s standard of living collapsed and for years it has been a blot on the Western Hemisphere.
Paul is now warning that America soon may have a “Venezuela,” the old scandal-plagued Venezuela, known by the name of Texas.
“This will not end well,” he confirmed, after the incoming governor in the state, Democrat Gina Hinojosa, confirmed her plans on day one are to freeze electricity rates in pursuit of “affordability,” a scheme used by Venezuela to descend into chaos.
According to a report posted an CNS News, she promised to “freeze residential electricity rates and make corporations finally pay their fair share.”
She apparently didn’t address to obvious fact that corporations’ income comes from consumers, so their payments, in fact, ultimately are borne by state residents.
“Nothing like your first act being out of the Venezuelan socialist playbook . . . This will not end well,” Sen. Paul cautioned. “Don’t let the Left tell you their agenda isn’t socialism. This sounds like Venezuela.”
He cited facts about the circumstances that led to the collapse of Venezuela.
He quoted from Economics Observatory which determined, “The country’s economy collapsed under a single government during peacetime,” stressing the devastating impact socialist policies had on Venezuela.
“Living standards in oil-rich Venezuela plummeted by a staggering 74% between 2013 and 2023. This is the fifth largest fall in living standards in modern economic history.”
Paul noted, “The Venezuela ‘government set prices for thousands of retail goods by decree: from rice and chicken to soap and toilet paper. Price caps were often too low, so producers could not cover their costs, leading to shortages, smuggling and bankruptcies.'”
Texas’ economy now includes a competitive energy sector where citizens can choose from a long list of providers.
Electricity providers are expected to oppose the governor’s socialism in court.
