US Economic Freedom Down

Economic Freedom Index: United States, overall score 75.4, world rank 11

LIMITED GOVERNMENT Government Spending 54.7,  Fiscal Freedom 65.6

REGULATORY EFFICIENCY, Business Freedom 84.7, Labor Freedom 91.4

Monetary Freedom 77.0

OPEN MARKETS, Trade Freedom 87.0, Investment Freedom 70.0

Financial Freedom 70.0

QUICK FACTS

·      Population: 319.0 million

·       GDP (PPP): $17.4 trillion

o     2.4% growth

o     2.2% 5-year compound annual growth

o     $54,597 per capita

·       Unemployment: 6.2%

·       Inflation (CPI): 1.6%

·       FDI Inflow: $92.4 billion

Americans continue to lose economic freedom. Following declines in seven of the past eight years, the United States this year has equaled its worst score ever in the Index of Economic Freedom. Ratings for labor freedom, business freedom, and fiscal freedom have flagged notably, and the regulatory burden is increasingly costly.

Economic Freedom Snapshot

·       2016 Economic Freedom Score: 75.4 (down 0.8 points)

·       Economic Freedom Status: Mostly Free

·       Global Ranking: 11th

·       Regional Ranking: 2nd in North America

·       Notable Successes: Open Markets

·       Concerns: Management of Public Finance and Rule of Law

·       Overall Score Change Since 2012: –0.9

The United States remains mired in the ranks of the “mostly free,” the second-tier economic freedom status into which it dropped in 2010. America’s historically vibrant entrepreneurial growth is significantly hampered by intrusive, expensive, and often ineffective government policies in areas ranging from health care to energy to education. Government favoritism toward entrenched interests has hurt innovation and contributed to a lackluster recovery and stagnant income growth.

http://www.heritage.org/index/ranking

Comments

The freedom to be self-supporting has eroded in the past 8 years due to off-shoring manufacturing jobs, excessive immigration and excessive government spending. The 6.2% unemployment rate is a lie.  We have 84 million working-age US citizens (38%) without jobs.  If we wanted even 42 million of these citizens to find jobs, we would need to shut down all immigration for at least 10 years.  That is assuming that we can create 4.2 million jobs a year. 

Over the past 8 years, the US has created 1.8 million jobs per year.  We graduate 1.8 million students each year and we have imported well over 1.8 million immigrants each year.

Norb Leahy, Dunwoody GA Tea Party Leader