U.S. DROPS AGAIN: We’re #25 in Annual Global Economic Freedom Index ‘Amid Mounting Deficit and Debt Burdens’

The United States has slipped to 25th place globally for economic freedom amid excessive government spending and a mounting debt crisis, according to The Heritage Foundation.

Another poison consequence of the Democrats’ war on America.

We’re No. 25: US slips again in annual global economic freedom index ‘amid mounting deficit and debt burdens’

The global economy is ‘mostly unfree,’ according to a new index of economic freedom

By Jon Brown | Fox News March 1, 2022:

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The U.S. has fallen again in a recent index of global economic freedom that noted economic freedom worldwide has declined to its lowest point in two decades.

The Heritage Foundation’s 2023 Index of Economic Freedom, which evaluated economic policies and situations in 184 nations from July 1, 2021, to June 30, 2022, found a worldwide economy that is “mostly unfree,” according to an executive summary of the report provided to Fox News Digital.

The report made special note of the declining position of the U.S., which slipped to 25th place globally because of what researchers described as the country’s runaway government spending amid “mounting deficit and debt burdens.”

“This really should be a wake-up call if you’re looking at the United States,” Joel Griffith, a research fellow in the Thomas A. Roe Institute for economic policy studies at The Heritage Foundation, told Fox News Digital. “We’ve been doing this report now since the 1990s, and based on our metrics, this is the lowest the United States has ever ranked in the index as far as the total score.”
The U.S. federal government will accumulate $19 trillion in debt over the next decade, according to a recent estimate from the CBO.

The U.S. federal government will accumulate $19 trillion in debt over the next decade, according to a recent estimate from the CBO.

“Especially notable is the continuing decline within the ‘mostly free’ category of the United States, whose score plummeted to 70.6, its lowest level ever in the 29-year history of the Index,” researchers wrote. “The U.S. is now the world’s 25th-freest economy. The major causative factor in the erosion of America’s economic freedom is excessive government spending, which has resulted in mounting deficit and debt burdens.”

The U.S. dropped from the 20th to the 25th spot in the index since last year. Other nations experienced worse downward trends, which reportedly prevented the U.S. from sliding further down the rankings.

The U.S. federal government will accumulate $19 trillion in debt over the next decade, according to a recent estimate from the CBO.

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AUTHOR

Pamela Geller

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