Speaking of Heritage’s Index of Economic Freedom, guess what country is losing ground fast? The U.S. of A.
Throughout most of the 20 years that Heritage has issued its report the US has been classified as “Free,” but this year we have slipped to the category of “Mostly Free.” The United States has fallen fastest. Here’s the unhappy analysis:
The 2022 Index of Economic Freedom documents a worldwide decline in economic freedom, with the largest decline in average scores ever measured. The United States is no exception: With declines in half of the 12 categories of economic freedom measured by the Index, the U.S. dropped from a high of fourth place in 1995 to 25th place, its lowest ranking to date.
Here’s one reason for this dire assessment: Trillions of dollars more debt and government spending. Imagine how bad things would be if Congress were ever to enact the $5 trillion “Build Back Better” debt bomb?