"According to the 2016 Index of Economic Freedom, an annual publication by The Heritage Foundation, America’s economic freedom has tumbled. With losses of economic freedom in eight of the past nine years, the U.S. has tied its worst score ever, wiping out a decade of progress.
The U.S. has fallen from the 6th freest economy in the world, when President Barack Obama took office, to 11th place in 2016. America’s declining score in the index is closely related to rapidly rising government spending, subsidies, and bailouts.
Since early 2009:
Government spending has exploded, amounting to $29,867 per household in 2015.
The national debt has risen to $125,000 for every tax-filing household in America—a total over $18 trillion.
The government takeover of health care is raising prices and disrupting markets.
Bailouts and new government regulations have increased uncertainty, stifling investment and job creation.
The U.S. has the highest corporate tax rate in the developed world. This has driven new jobs to other, more competitive nations and has meant fewer jobs and lower wages for Americans.
The overall annual cost of meeting regulatory requirements has increased by over $80 billion since 2009, with more than 180 new regulations in place. In terms of ease of starting a new business, analyzed by a recently published World Bank report, the U.S. is ranked shockingly low at 49th, trailing countries such as Canada, Georgia, Ireland, Lithuania, and Malaysia."
rank country overall
1. Hong Kong 88.6
2. Switzerland 81.0
3. Singapore 87.8
4. Australia 80.3
5. New Zealand 81.6
6. Canada 78.0
7. Chile 77.7
8. Ireland 77.3
9. Estonia 77.2
10. United Kingdom 76.4
11. United States 75.4