The Heritage Foundation and The Wall Street Journal released their 2014 Index of Economic Freedom on Tuesday, January 14, 2014. Terry Miller reported that this is the 20th year this index has measured “a nation’s commitment to free enterprise on a scale of 0 to 100 by evaluating 10 categories, including fiscal soundness, government size and property rights. These commitments have powerful effects: Countries achieving higher levels of economic freedom consistently and measurably outperform others in economic growth, long-term prosperity and social progress.
“Those losing freedom, on the other hand, risk economic stagnation, high unemployment and deteriorating social conditions. For instance, heavy-handed government intervention in Brazil’s economy continues to limit mobility and fuel a sense of injustice.”
The ranking of the United States has declined for seven straight years; this year the U.S. dropped completely out of the top 10 most economically free countries. According to the chart provided here, the United States is now #12, meaning that eleven other nations have more economic freedom than Americans have. Those eleven nations are: 1) Hong Kong, 2) Singapore, 3) Australia, 4) Switzerland, 5) New Zealand, 6) Canada, 7) Chile, 8) Mauritius, 9) Ireland, 10) Denmark, and 11) Estonia.
Miller’s report continued: “It’s not hard to see why the U.S. is losing ground. Even marginal tax rates exceeding 43% cannot finance runaway government spending, which has caused the national debt to skyrocket. The Obama administration continues to shackle entire sectors of the economy with regulation, including health care, finance and energy. The intervention impedes both personal freedom and national prosperity.
“But as the U.S. economy languishes, many countries are leaping ahead, thanks to policies that enhance economic freedom – the same ones that made the U.S. economy the most powerful in the world. Governments in 114 countries have taken steps in the past year to increase the economic freedom of their citizens. Forty-three countries, from every part of the world, have now reached their highest economic freedom ranking in the index’s history.”
Here is proof that we have not been imagining the deteriorating economy is our nation. Mr. Obama and his cohorts are destroying our nation in front of our eyes. We must do something in 2014 to stop them or we will lose our country.