It is officially time to put a fork in the concept of American Exceptionalism. Whatever bragging rights Americans had in influencing and shaping the world, in crushing the totalitarians and spreading democracy and freedom, sometimes at a terrible cost to ourselves, well, the glory days are long gone. What’s left is a dying nation (not yet dead) as evidenced by the new CATO report on world economic freedom;
In the year 2000 the United States ranked second in the world for economic freedom. Today, the US has dropped to a dismal seventeenth, thanks to overspending, disregard for the rule of law by elected leaders, and increasing regulations. Economic freedom is what has brought about the standard of living we all enjoy today. I shudder to even think what we’ll rank after Obamacare has been fully implemented.
The United States, long considered the standard bearer for economic freedom among large industrial nations, has experienced a substantial decline in economic freedom during the past decade. From 1980 to 2000, the United States was generally rated the third freest economy in the world, ranking behind only Hong Kong and Singapore. After increasing steadily during the period from 1980 to 2000, the chain linked EFW rating of the United States fell from 8.65 in 2000 to 8.21 in 2005 and 7.74 in 2011. The chain-linked ranking of the United States has fallen precipitously from second in 2000 to eighth in 2005 to 19th in 2011 (unadjusted rating of 17th).
You can access the actual report here. Using easily measured yardsticks like legal system and property rights, sound money, freedom to trade internationally and regulations (both levels of and effectiveness), you can track the precipitous slide into oblivion.
The one advantage to perusing a list like this regularly is that when that time comes when freedom loving Americans decide that enough is enough, that this shall not stand, they can relocate, picking a country that actually respects its citizens and is doing now what America use to do.
It is sad, really, to think how low we have fallen. The usual suspects are clearly out there but what’s the point in pointing fingers, the damage is done and there really is no going back. The era of big government and dependency is what we now have. I can’t say get used to it because it will only get worse.
Thank God Reagan is not around to see what they have done to his shining city on the hill, it is now a garbage dump. Being an American now others zero prestige, I guess we can lie and say we are Canadians.
One more domino in history, the Greeks, the Roman, The Ottoman Empire, the British Empire, now us. Obama got his wish, we are now…………..ordinary.