America’s Lost Economic Freedom
The Heritage Foundation has released our 2010 Index of Economic Freedom, and the results are alarming if not terribly surprising: America is no longer ranked among the world’s free economies.
Instead, for the first time, America ranks as only “mostly free” — behind countries like Canada, Ireland and Switzerland.
The Index, published for the past 16 years as a joint project with The Wall Street Journal, analyzes the economic freedom of 179 countries and bases their scores on three categories: government burdens upon businesses and entrepreneurs; intrusiveness of government; and fundamental societal characteristics that support today’s most prosperous economies.
Given the past year, it should come as no surprise that the United States’ ranking has declined. After all, government spending has exploded and intrusion into the economy has increased, yet our government continues to raise its debt ceiling to allow for spending package after spending package.
Heritage Vice President Michael Franc explains:
The drop in rankings is notable as it comes in the same week that marks the one-year anniversary of President Barack Obama’s inauguration. By any standard, Americans’ overall wealth and prosperity has continued to decline…unemployment has skyrocketed and shows no signs of abating, government spending and debt are at unprecedented levels during peacetime, and our elected officials seem determined not only to ignore these alarm bells but to pursue policies…that will cause entrepreneurs to stay on the sidelines rather than take the risks that have led the United States out of previous recessions.
From Karen Wilken Powers on Facebook:
Over five thousand years ago, Moses said to the children of Israel: “Pick up your shovel, mount your asses and camels, and I will lead you to the promised land”. Nearly 75 years ago, Roosevelt said: “Lay down your shovels, sit on your asses, and light up a camel, this is the promised land”. Now Obama has stolen your shovel, taxed your asses, raised the price of camels, and mortgaged the promised land!
A direct correlation between an anti-free market administration and Congress, loss of economic freedom and other freedom’s lost in the future. Wake up America. Indeed!