You ain't seen nothin' yet.
DESPITE PRESIDENT Donald Trump's best efforts, economic freedom in the [United States] declined slightly over the past year, even as it increased across the world, according to the Heritage Foundation's Index of Economic Freedom . . . .
Unca D's rewrite: Because of President Donald's overspending and protectionist trade policies, economic freedom declined . . . .
"This year's Index highlights a consistent trend . . . around the globe -- countries [that] embrace the ideals of capitalism and free markets . . .
. . . see higher growth, rising standards of living, decreased poverty and more economic opportunities . . . . Meanwhile, those that embrace socialism, protectionism and other failed big-government economic approaches continue to fall behind, and ultimately deny their people the chance for better lives," wrote . . . [the] editors of the index.
This essay is from Tyler O'Neil, "Despite Trump's Best Efforts, Economic Freedom Declined in the U.S. Last Year, pjmedia.com, March 17, 2020 (emphasis added).
The top six counties for economic freedom . . . are Singapore, Hong Kong, New Zealand, Australia, Switzerland, and Ireland. North Korea ranks the worst for economic freedom, with Venezuela and Cuba not far behind. . . .
Yet even as economic freedom grew across the world, it declined in the [United States] over the past year and the past decade. . . .
Blame for decline over the past year goes to President Trump and, as always, Congress. Blame for the past decade goes to President Obama, aided by President Trump, and, again, to Congress.
The [United States ranks] the seventeenth-freest in the 2020 Index . . . .
"Economic freedom has declined in America over the past decade primarily because of excessive government spending and intrusive regulation of the health care and financial sectors, although scores have stabilized in recent years," the index notes. The index is likely referring to Obamacare and the Dodd-Frank bill, countered by President Trump's regulatory reforms.
"Reckless deficit spending by Congress and the Administration under both parties explains the weakest index indicator: government spending and fiscal health. . . .
The index gives Trump high marks for cutting regulations and signing the 2017 tax cuts. . . .
[But the] Heritage authors . . . fault Trump for "protectionist trade policies" that will "drag on economic growth if newly applied tariffs are not reversed." The president would insist that his tariffs are a response to unfair trade policies imposed by other countries, but however well-intended (and hopefully temporary), the tariffs do weaken America's trade freedom.
The congressional elections of 2018 also count against the U.S. economic freedom score. "The Democratic Party took control of the House of Representatives in January 2019, dimming prospects for passage of major legislation affecting economic policy before the 2020 election," the index notes.
Meanwhile, the index gives the [United States] high marks for judicial effectiveness. The rise of originalist judges and justices has arguably helped America achieve "well-functioninng legal frameworks" that "protect the rights of all citizens against infringement of the law by others, including by governments and powerful parties. As an essential component of the rule of law, judicial effectiveness requires efficient and fair judicial systems to ensure that laws are fully respected, with appropriate legal actions taken against violations."
Trump has made vital progress in a few key areas, but without lasting structural change to decrease the size and scope of bloated federal government, America's economic freedom will continue to decline. There is no substitute for a Congress dedicated to restoring the limited government envisioned by America's founders -- and sadly, Democrats have edged father and farther from that vision toward "progressive" bureaucracy and socialism.
The Index of Economic Freedom highlights the importance of the 2020 election. As Democrats decide between an open "democratic" socialist and a former vice president who supports many of the socialist's ideas, Trump is pushing America in the right direction, even though he is hamstrung by a divided Congress. . . .
Why will this year's score, published next year, will be worse than last year's score, published this month?
Because of our federal, state, and local governments' excessive and oppressive response to Covid-19. And because of the spending. One trillion? Why? So our governments can increase their reach and size while piously claiming to be repairing economic damage they in fact caused.
How are we answering Covid-19? As always, by doing as the governments and their progressive enablers say, and giving them our money. Which causes vast economic damage. Which requires government to impose even more regulations and spend even more money.
It's a perfect feedback loop.
Where are the leaders of courage, conscience, and wisdom who can chart sensible policy responses to this pandemic? Policies that help us defeat or outlast the virus without killing businesses, investments, and jobs. Even Trump is competing in the big-government derby.
When our governments know their policies will destroy the economy and adopt those policies anyway, it is fair to say that they intend to destroy the economy.
Decline. Bet on it.
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