Every year, the Heritage Foundation releases their "Economic Freedom Index" that ranks the countries of the world based on their adherence to free market principles.
As one of the most richest nations in the world, the United States should rank near the top... right?
Wrong.
According to this year's report, while other countries have maintained their economic freedom throughout the pandemic, the United States has hit its lowest point since the Index was first published.
The United States is currently ranked 20th behind countries like New Zealand, Switzerland, Singapore, Canada, Georgia, and Chile.
The U.S. dropped a full 1.8 points this year, the biggest swing of any top-20 country. Why? Because the federal government has blown out the budget and put our future stability at risk.
“The major obstacles to greater economic freedom in the United States continue to be excessive government spending, unsustainable levels of debt, and intrusive regulation of the health care and financial sectors,” reads the United States’ profile.
“Regrettably, some of the policy measures undertaken or planned by governments around the world in response to the global health crisis run the risk of undermining economic freedom and, thus, long-term economic growth and prosperity,” the Index of Economic Freedom editorial team explained in a press release from Heritage. “Policymakers cannot simply spend their way back to prosperity after the toll that public health responses have taken on local economies. For a meaningful economic recovery, economic freedom must not be curtailed by extended government emergency powers.”
As the Heritage Foundation points out, we can't spend our way into prosperity. Increased federal spending leads to stagnation (or inflation), instability, and economic hardship. Ultimately, it could lead to total fiscal collapse as our children and grandchildren struggle under the weight of an enormous national debt and unfunded liabilities.
Congress has shown no willingness to address this issue. Both Democrats and Republicans continue to support reckless spending. That's why We the People must take control, and we can do it with a Convention of States.
An Article V Convention of States has the power to propose constitutional amendments that force the federal government to be fiscally responsible. These amendments can kick-start our economy by reducing regulation and prohibiting the federal government from meddling in our economic affairs. They can also force Congress to balance the budget, but also prohibit them from increasing spending or raising taxes.
With this complete package of amendments in place, the American people will be free to pursue prosperity and the federal government will be forced to cut wasteful and unnecessary spending. Our country needs a Convention of States to get our economy back on track and regain our places as the freest, most prosperous nation in the world.
Sign the petition below to join the movement!
