US economic ranking drop ‘inevitable’

An American professor says the continuous ranking drop in US economic freedom index is an Å“inevitable” outcome of failed leadership.

Å“This drop in rank is inevitable,” Paul Sheldon Foote, professor of accounting at California State University, Fullerton, told Press TV on Wednesday.

Å“When you have American government that has pursued endless wars, the giving away of free medical care in health programs, the increase in large amount of regulation of business. It means that we are so deeply buried in debt that we have caused problems for future generations of Americans who will have to dig ourselves out of this hole,” he said.

After seven years of decline in the rating, the US has gone down to 12th place in the index which was published by the Heritage Foundation and the Wall Street Journal on Wednesday.

The United States is no longer on the list of top ten countries for economic freedom, according to the 2014 Index of Economic Freedom.

According to Foote, the decline is Å“a good report card on how terrible the American leaders have been behaving in recent years with their endless wars and their attempts to promise the voters something for nothing in order to be reelected.”

The report says the US slid down two spots from last yearâ„¢s index and is the only country to show such a prolonged decline.

The US with a “substantial expansion in the size and scope of government,” is one spot behind Estonia in the index and only one place ahead of Bahrain which has earned No. 13.

AN/AGB

Source: Press TV