USA Slips in Economic Freedom
Recorded on January 11, 2011
It's time for common sense; I'm Ernest Istook.
Every year, The Heritage Foundation and The Wall Street Journal combine to examine the economies of 183 countries, and rank which do best at economic freedom.
Where economic freedom exists, jobs and prosperity follow. Education improves, health improves, and the quality of life goes up.
Unfortunately, although we still rank well, the USA is slipping. Two years ago we were number 6 in economic freedom; now we've dropped to number 9, due to what government is doing to over-regulate health care, businesses, financial services, and spending more than we can sustain—and we now have the world's highest tax on corporations.
Our economy is slow to rebound—yet in places like China and India they're back to boom times. Maybe the politicians looking to understand why we're lagging behind should try something simple—like look in the mirror.
For common sense, from The Heritage Foundation, I'm Ernest Istook.