Liberals love to tout their economic policies' "success" despite the fact that the data do not support their narrative. Indeed, under President Obama, the US has plummeted on the Economic Freedom index to its worst score in history, according to a new study by the Heritage Foundation.
The US has fallen from 6th to 11th place in the economic freedom ranking, indicating that expanding government, welfare, healthcare, regulations, subsidies and more have taken a costly toll on the nation. CNSNews reports on some of the costly measures the US has suffered since 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 index proves how America's economic freedom is declining at a rapid pace in just a few of the following ways:
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.
President Obama promised "transformational change" and he certainly delivered on that promise. Unfortunately it was at the expense of the country and its citizens, which is precisely the outcome desired if someone wanted to reduce America's standing in the world.
As voters head to the polls leading up to the nomination, and in the general election, it is important to heed that the damage will only worsen if another Democrat wins the presidency in 2016.