America's economic freedom tumbles under Obama, group says
According to the Heritage Foundation's 2016 "Index of Economic Freedom," the United States has declined under President Obama from the world's eighth freest economy to the eleventh.
The conservative organization says that "a decade of progress" was wiped out under Mr. Obama's watch, as the United States posted its worst score in history.
Rapidly growing government spending, subsidies and rebates were largely to blame, the Foundation said.
Since Mr. Obama took office until 2015, the report said, government spending rose to $29,856 per household. Then national debt- totally over $18 million- now amounts to $125,000 per household. Obamacare, it said, has raised prices and disrupted markets, while bailouts and new regulations have stifled investment and job growth by creating uncertainty.
This video from the Foundation summarizes the study's findings.
The conservative organization says that "a decade of progress" was wiped out under Mr. Obama's watch, as the United States posted its worst score in history.
Rapidly growing government spending, subsidies and rebates were largely to blame, the Foundation said.
Since Mr. Obama took office until 2015, the report said, government spending rose to $29,856 per household. Then national debt- totally over $18 million- now amounts to $125,000 per household. Obamacare, it said, has raised prices and disrupted markets, while bailouts and new regulations have stifled investment and job growth by creating uncertainty.
This video from the Foundation summarizes the study's findings.
HT: Drudge
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