2014 Economic Freedom Index

The level of economic freedom in the U.S. is at an all-time low.  According to the Heritage Foundation, the U.S. is ranked "12th."  Last year, the U.S. was ranked "10th."  We have dropped for seven years in a row with this year moving out of the top ten.

According to an article in the Wall Street Journal by Terry Miller in which he states the following: "For 20 years, this index has measured a nation's commitment to free enterprise on a scale of 0 to 100 by evaluating 10 categories, including fiscal soundness, government size and property rights.  These commitments have powerful effects: Countries achieving higher levels of economic freedom consistently and measurably outperform others in economic growth, long-term prosperity and social progress.  Those losing freedom, on the other hand, risk economic stagnation, high unemployment and deteriorating social conditions."

I have to admit that it does appear that the glory days of the U.S. are behind us if we continue on our current economic course of limiting economic freedom.