Every number under Obama is worse. Nothing new to report here.
The United States’ reputation as home to one of the world’s freest economies continues to decline, according to an international report released Tuesday.
The U.S. dropped to 18th worldwide, compared to 10th in 2008 and third from 1980 to 2000, the 2012 Economic Freedom of the World report found. The findings are based on information through 2010.
“The U.S. is on the wrong track,” said co-author James Gwartney, a Florida State University economics professor.
He says the 48-page report shows countries with the freest economies grew more rapidly and achieved higher income levels for citizens, while the United States’ decade-plus course of government expansion, increased debt and regulation and other moves created a “system of crony capitalism.”
“The declining economic freedom rating of the U.S. provides confirmation of this trend,” Gwartney concludes.
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Obamanomics = trickle down poverty with less freedom!
Every year, I look forward to the annual releases of both Economic Freedom of the World and the Index of Economic Freedom. With their comprehensive rankings, these two publications enable interested parties to compare nations and see which countries are moving in the right direction.
As an American, I’m ashamed to say that these publications also show which nations are moving in the wrong direction. And the United States ranks poorly by this metric, having dropped from 3rd place to 10th place since 2000 according to Economic Freedom of the World.
The United States also has dropped to 10th place in the Index of Economic Freedom, and is now ranked only as a “mostly free” nation.
Some people dismiss these pieces of data because the two rankings are considered to reflect a pro-free market bias.
But the folks at the World Economic Forum surely can’t be pigeonholed as a bunch of small-government libertarians, and the WEF’s Global Competitiveness Report shows the same trend.
The United States took the top spot in the WEF’s Global Competitiveness Index as recently as 2007 and 2008, but then dropped to 2nd place in 2009.
I think Bush bears the full blame for that unfortunate development. But the decline has continued in recent years, and Obama deserves a good part of the blame for the drop to 4th place in 2010.
Blame Bush for 2009? Obama was president in 2009! We were #1 in 2007 & 2008 during Bush’s so called “Great Recession.”
The United States then fell to 5th place last year, in part because of horrible scores for “Wastefulness of Government Spending” (68th place) and “Burden of Government Regulation” (49th place).
Given this dismal trend, I opened the just-released 2012 Report with considerable trepidation. And my fears were justified. The United States has now dropped to 7th place.
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