Wednesday, January 18, 2012

The Steady Fall of Economic Freedom

Announced last week, the Heritage Foundation regrettably downgraded the United States of America to 10th place.

To put in perspective, in 2007, a scant 5 years ago, the United States of America was rated as number 4 in the world, with a rating of 82 on a 100 point scale for freedom. Heritage has since noticed a steady decline however, now placing us at a mere 76.3, placing us below the likes of Ireland.

Much to do with democrat administration is cited as cause for this severe downgrade. In 2007, unemployment was 5.5%, the national debt stood at 8.8 trillion. Today, with an 2011 unemployment rate of 9.6% and a national debt that stands at 102% of GDP, the direction of the country is clearly on the wrong path.

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