We started holding 4th place in economic freedom in 1995 and ended up with the least in 2012, compared to Australia and Canada. Then we nose-dived in 2009. We ranked 5th at 81.2 in 2006, slipped to 80.9 in 2008 with a slight decline to 6th place in 2009 and ended up ranking 10th at 76.3 in 2012 (lower than where we started in 1995). Spanning the same years, Hong Kong and Singapore’s booming economy ( ranking #1), far out ranked Australia and Canada. Both of these highest ranks stayed in the 90th percentile as “free.”
Graph your own data here:
Leadership and Legislators all across this great country, starting with Washington has been asleep at the wheel. “We the people” have wondered if they were asleep and, as it turns out, we should have checked before now to give them a nudge…or, more appropriately, slammed them with a bucket of cold water.
Are we not telling them loud enough, or are they not listening?
If we don’t know how to cut the kids credit card up, do we just let the non-American creditors work things out for us?
When our kid’s spending habits get out of control and their credit card debt keeps rising, do we warn them first then take away the card if our warnings are not heeded? Our national debt ceiling keeps getting raised because we’re allowing the spenders to raise their credit limit instead of schooling them in economics.
We, the guardians must take control to cut spending instead of raising the credit limit. Cut spending or cut up the credit card, it’s not rocket science and don’t believe them when they tell you it is. After all, the first response from any child would be, “Mom, Dad, you just don’t understand.”
Judge Napolitano’s view – How Much Economic Freedom Do We Have in the United States?