“The United States’ economic freedom score is 72.1, making its economy the 25th freest in the 2022 Index. The United States is ranked 3rd among 32 countries in the Americas region, and its overall score is above the regional and world averages,” Heritage reported. The score of 72.1 is a record-low for the U.S., which fell from the 20th spot in last year’s rating.
This news follows reports that inflation continued its once-in-a-generation surge in January, reaching a rate of 7.5% in the U.S. According to the United States Department of Labor, the Consumer Price Index (CPI) — which tracks costs faced by the typical American family — attained its highest rate of increase since February 1982. Core CPI, which does not consider volatile categories such as food and energy, increased by 6% year-over-year.”
“This year’s Index of Economic Freedom paints a disturbing picture, both at home and abroad,” Heritage President Kevin Roberts said of the report. “The decline of American economic freedom is serious cause for alarm and has real and tangible consequences for all Americans, especially low-income families and the working class.”
