• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • The State of Our Union’s Economic Freedom: On a Startling Decline

    LARRY DOWNING/AFP/Getty Images/Newscom

    LARRY DOWNING/AFP/Getty Images/Newscom

    During his State of the Union address, President Obama laid out lots of claims, plans, and promises. No matter how much he tries to repackage his rhetoric, however, it remains clear that the state of our union’s economic freedom has become frail due to his misguided policies.

    According to the 20th anniversary edition of the Index of Economic Freedom, which was released in Hong Kong and Washington, D.C., earlier this month, the U.S. is the only country to have recorded a loss of economic freedom each of the past seven years. As a result, our economic dynamism and innovative capacity have been severely undermined, not least by the following:

    No wonder that the labor force participation rate has dropped to its lowest point in 35 years. Worse, vibrant entrepreneurial growth has been stymied by greater policy uncertainty and mounting debt. And a disturbing trend toward cronyism has gravely eroded the rule of law and distorted our free-market system.

    Restoring economic freedom is indispensable to revitalizing and brightening America’s future. Now is the time to reaffirm the principles of limited government, free enterprise, and rule of law so that we can reconstitute an America where freedom, opportunity, and prosperity flourish.

    Posted in Front Page [slideshow_deploy]

    Comments are closed.

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.

    ×