US Economic Freedom Has Hit a Historic Low. What Happened?

Regulations and taxation are strangling our economy. Like the kudzu growing in the hills around my home, red tape grows and grows leaching nutrients from the economic soil and blocking the sun that is needed for new businesses and ventures to grow.

(From The Daily Signal)

Since 1995, the index has measured a nation’s commitment to limited government and free enterprise on a scale of 0 to 100 by evaluating four critical policy pillars, including rule of law and regulatory efficiency.

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.

In fact, America’s standing in the index had dwindled steadily during the Obama years. This largely owed to increased government spending, regulations, and a failed stimulus program that enriched the well-connected while leaving average Americans behind.

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