NewburyportNews.com, Newburyport, MA

October 11, 2012

US economic freedom rating drops


Newburyport Daily News

---- — To the editor:

While I was listening to a radio talk show out of Atlanta, Ga., on FM 95.5, the radio talk show host stated, “The U.S. dropped its standings in the world’s economic freedom from 10th to 18th.”

I did some quick research on this subject matter. There are quite a few articles on this subject. I picked one from the “Omaha World Herald.” In 2010 the U.S. was rated at 10th in the world’s economic freedom rating. Now we are at No. 18. I think that the U.S. should be No.1 in those ratings.

Canada, which is not supposed to have as much opportunity as we are, was rated as the 5th highest in economic freedom.

A few of the reasons why the U.S. has such a low rating is our tax code, size of government (the bigger the government, the more regulations, the less economic freedom and outdated regulations), the economic bailouts for the bank and auto industries, and the general welfare mentality. Why should we be practice good financial practices, when President Obama, his policy makers and would-be team player Elizabeth Warren automatically bail out ill-run corporations?

The report stated that even Hong Kong, a providence of China, has a higher rating than we do. This is totally unacceptable. This should not be tolerated. I can’t fathom a communist country that has less economic regulation than we do.

I think that President Obama should not be re-elected and Elizabeth Warren should go back to her day job.

If our economy is getting better, according to President Obama and Elizabeth Warren, how come our economic freedom rating has dropped?

Mike Tyson

Salisbury