In the news: Heritage released the 2022 edition of the Index of Economic Freedom today, which rates the overall economic freedom of every country in the world. Unfortunately, this may not be a report card you want to bring home.
The good: For the first time in the Index’s history, the country of Taiwan has earned a “free” rating. Other countries made positive gains as well, like Luxembourg and Estonia.
The bad: The U.S. isn’t doing so hot. Years of overspending and bad economic policies have driven the U.S. ranking steadily downward. President Biden made it worse. In 2021, the U.S. dropped to 25th place, down from 20th place the year before.
The opportunity: “It’s time for the U.S. government to get its fiscal house in order, unleash freedom here at home, and help Americans flourish once again through self-governance,” writes Heritage President Kevin Roberts.
Learn more: Check out the new edition of the Index here.