Tuesday, September 16, 2008

United States Slips In Economic Freedom Report

The Cato Institute, partnering with the Fraser Institute of Canada, released the latest Economic Freedom of the World Annual Report. In 2000, the U.S. found itself ranked impressively in terms of a free economy, at number 2. However, with the rest of the world improving their scores, the good ol' U.S has dropped to number 8. According to Cato scholar Ian Vasquez, "The rule of law, government spending, and regulation are the areas where the United States saw the most troubling declines in its ratings this decade." With both presidential candidates talking of funding massive government programs, the Feds bailing out and nationalizing financial establishments, and increasing regulations all across the private sector, could the United States no longer be "the place to do business?"

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