Posted by
Always To The Right on Wednesday, September 09, 2009 10:55:28 AM
The effect of the Obama administration’s economic policies have already
had an impact on our international standing — and that is bad news. Financial Times reports
that the US has dropped out of its customary position as the most
competitive economic environment, allowing Switzerland to capture the
top spot. Why?
The full report has
much more detail, but government interventions already committed have
dragged our competitiveness down. That doesn’t include the government
takeover of health care and the government takeover of energy
production, both under consideration now by Congress. If the
government imposes itself on both industries, it will control more than
30% of the American economy — and the next rating will not be as kind
as First Runner-Up.
How did we come to lose our spot? One reason can be found on page
295 of the report, which ranks nations on the burden of government
regulation. Currently, we rank 53rd on that list, behind such free
societies as Morocco, Ethiopia, Saudi Arabia, Jordan, and China. The US regulatory scheme is actually 32 nations worse
than communist China’s. (The UK ranks 86th on this list, if that makes us Yanks feel any better.)