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Rush's Morning Update: Index August 19, 2010

Rush's Morning Update: Index
August 19, 2010

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For over a decade, the Heritage Foundation – one of my sponsors has teamed up with The Wall Street Journal to publish the “Index of Economic Freedom.” The index examines 183 countries, measuring how “free” they are based on trade, government spending, monetary policy, property rights, labor laws, investment health, and other criteria.

After sifting through massive amounts of data, countries are ranked: free; partly free; moderately free; and at the bottom, countries that are repressed. Until this year, America was one of the countries ranked “free.” No longer.

Of the world's 20 largest economies, we suffered the largest decline. Canada is now ranked higher than us in economic freedom. Bulgaria is ahead of us in trade policies. And brace yourself: China – the Chi-Coms – are freer than the United States of America, based on “fiscal policy.” Their tax system is less punitive – making it easier for their citizens to invest and save. The Chi-Coms have a lower marginal tax rate than we do. The Chi-Coms!

When it comes to government spending, even Egypt is doing a more responsible job than we are. In Belgium, it is easier to start up a business.

This is Obamaville. Barack Hoover Obama promised “hope and change.” We got change – which is to turn America into a nation on the decline; and we got hope-less-ness. What we are losing, every day, is our freedom – and the American dream. How do you index that?

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