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The U.S. Falls In the Economic Freedom Index
(Washington, D.C.) – The Fraser Institute recently published the Economic Freedom of the World Index with the United States ranking in 16th place. Before the year 2000, the United States had generally ranked in third place overall, but weakening protection for property rights, declining support for trade, and overregulation, have contributed to a stunning fall in recent years. For workers and small businesses, this translates into a significantly lower economic growth rate. The repercussions of the fall are showing up in the lives of Americans: with the median household income falling in what experts consider a sluggish recovery, and almost half of the population claiming job security has remained the same in the past year – despite claims of a thriving economy from the Administration.
Daniel Garza, Executive Director of The LIBRE Initiative released the following statement:
“The decline in our economic freedom as a nation, translates to less opportunities for all Americans. Only 1 in 4 Americans believe their personal finances have improved in the last year. We see time and again that growing government, limiting trade, and expanding unnecessary regulations have a negative effect in the lives of millions.
As a nation we have fallen behind. The current Administration has expanded government to a point where opportunity is limited to those who can work the system – often special interests in Washington – not for lack of willingness to work. We all benefit from the success of a growing America. Lawmakers would be wise to follow the ideals of our Founding Fathers and let free enterprise be the motor that pushes us to prosperity.”