Slip-sliding away in Economic Freedom

Over just the past two years, the U.S. plunged eight spots in the annual Index ranking and now sits in 25th place in the world for economic freedom.

“The major factor in the erosion of America’s economic freedom is excessive government spending, which has resulted in mounting deficit and debt burdens,” writes Anthony Kim, research fellow and editor of the Index.

The Heritage Foundation released the 2023 edition of its annual Index of Economic Freedom. The new report shows economic freedom deteriorating across the globe. The world economy, taken as a whole, has become “mostly unfree.” Regrettably, the global average economic freedom score has fallen from the previous year’s 60.0 to 59.3—the lowest it has been over the past two decades.

Singapore held its position as the world’s most-free economy, Switzerland followed closely behind at second, and Ireland (3), Taiwan (4), and New Zealand (5) rounded out the top five.

The United States continued its decline in economic freedom, recording a score of 70.6, a 1.5 decrease in freedom score from 2022 and its lowest score in the history of the Index. Note, it's all due to Joe Biden and Democrats' ungoldly spending.

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