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The US is loosing it Economic Edge?

According to this article from the Heritage Founation here: In the Heritage Foundations Index of Economic Freedom, the United States, for the first time since in the index began publication in 1995, is no longer among the top 10 freest economies in the World. Why is this important?

Economic Freedom, key to the ability of everyman to realize his/her dreams through work and effort, has been the bedrock of the US's economic supremacy in the world economy. While still a long way from the former USSR command economy, this change in status may indicate that the US is sliding toward a more socialist model economy instead of one based on the ideals of the free market place. We've already seen the catastrophic results of command economies in the USSR and the relative underperformance of socialist hybrid economies that we see in the EU. I feel strongly that the direction espoused by Senator Kenedy's recent speech to the National Press Club, would move us even further from the forefront of the World's economic leaders.

The Heritge site has some suggestions about what may be necessary turn around this trend here.

posted by Clayton @ 4:40 PM