Vote for Liberty: America's Economic Freedom Index Plummets

We cannot be free if the Government owns us. The Heritage Foundation's 2010 Index of Economic Freedom shows that not only do we not lead the pack in the highest level of Economic Freedom, we fell off the chart, and now are only "Mostly Free." With and index score of 78, we need 80 to maintain a status of "free." "Mostly Free." That is chilling. See a video below.

The Heritage Foundation has published the Index of Economic Freedom for 17 years. The Index is not a Republican tool to bash the Obama administration.

A Startling Decline

The United States is the 8th freest economy in the 2010 Index of Economic Freedom. Its score is 2.7 points lower than last year, reflecting notable decreases in financial freedom, monetary freedom, and property rights. Economic freedom has declined in seven of the 10 categories measured in the Index. Overall, the U.S. suffered the largest decline in economic freedom among the world’s 20 largest economies. The United States has fallen to 2nd place in the North America region, trailing Canada.

Our "Fiscal Freedom" is ranked 138, "Government Spending" is ranked 122 with No. 1 being the best - 180 the worst.

While we ponder our economic freedom after the government gobbled up the auto industry, the banking industry, and already owned the corrupt mortgage industry, and put economic freedom under peril via ObamaCare, there are other freedoms we are losing or have already lost. Think about the perils of Eminent Domain, about our medical records being online, a Christian advertising for a Christian roommate on her church bulletin board, being charged with Civil Rights violations.

Our Business Freedom ranks 91.3 on the Economic Freedom Index:

...12 countries do a better job. New Zealand...scores 99.9...sets the world standard. You can start a business there in one day....U.S. average is six days.

In fiscal year 2009, close to $15 billion in new regulatory costs were imposed on Americans. This is the biggest increase in 17 years and the second highest increase ever recorded, and 2010 is likely to be worse, primarily because of the health care bill. 

To free up our Economic Freedom, Heritage says:

Repeal stifling regulation of health care, the environment, financial institutions, and the Internet.

Create a nonpartisan Congressional Regulation Office to review new regulations and their alternatives.

Include a “sunset” date for all existing and new regulations, ensuring periodic review and requiring

Heritage suggests the following agenda to lower our Government Spending

The federal spending cap at 20 percent of GDP plus the increased efficiencies from returning significant spending responsibilities to state and local governments should limit overall government spending to 33 percent of GDP. This would:

Provide a gain of 9.3 points in the U.S. government spending score.

Improve the U.S. government spending ranking from 122nd place to 98th place.

Read the entire report [PDF] 


November 2nd is our opportunity to restore Liberty, by voting for Liberty...then the hard work begins.

 

Tea Party: I'm Voting for Liberty

Graphic courtesy of SodaHead

 Posted by Maggie @ Maggie's Notebook

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