in Economic Freedom, that is. Remember this when you are watching the Olympics next month…
After seven years of continuous decline in the rating, the US has gone down to 12th place in the 2014 Index of Economic Freedom. The report says the US is the only country to show such a prolonged decline.
The falling ranking was primarily caused by large reductions in property rights, freedom from corruption, and increasing government spending, says the study.
Since President Obama first took office in 2009 the cost of meeting federal government regulations has increased by over $60 billion. Government spending is now over 40 percent of gross domestic product and the national debt has now ballooned to over 100 percent the size of the economy.
Guess that’s what Obama meant when he said this: