Economic Freedom in the US Fell During Obama Administration

Economic Freedom in the US Fell During Obama Administration

Economic Freedom in the US Fell During Obama Administration

Economic Freedom in the US Fell During Obama AdministrationWhen Obama took office, the U.S. ranked sixth in economic freedom but as the Heritage Foundation found, is that the 2017 Index of Economic Freedom just revealed that the U.S. is now seventeenth, a full 10-point drop to its lowest score ever.

For over two decades, the Index of Economic Freedom has measured the impact of liberty and free markets around the globe, and the 2017 Index confirms the formidable positive relationship between economic freedom and progress.

The top 10 countries with the highest economic freedom and progress were Hong Kong, Singapore, New Zealand, Switzerland, Australia, Estonia, Canada, United Arab Emirates, Ireland, and Chile.

Economic Freedom in the US Fell During Obama Administration
Heritage Foundation 2017 Index of Economic Freedom

Investing.com pointed out that while President Barack Obama has termed his efforts to combat unemployment and slow economic growth a success but a study done by economists from Harvard and Princeton indicates that 94% of the 10 million new jobs created during the Obama era were temporary positions.

The study shows that the jobs were temporary, contract positions, or part-time jobs in a variety of fields and also, if a citizen has to work two part-time jobs, the Dept. of Labor classifies that as a one full-time job, regardless of wages.

The research by economists Lawrence Katz of Harvard University and Alan Krueger at Princeton University shows that the proportion of workers throughout the U.S., during the Obama era, who were working in these kinds of temporary jobs, increased from 10.7% of the population to 15.8%.

As a result, the Heritage Foundation stated, “Luckily, America has been given a unique opportunity to move away from Obama’s failed policies and toward an agenda that strives to restore economic freedom and spur growth.”

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