US Drops to No. 17 in Economic Freedom

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A recent report shows the United States has dropped dramatically in terms of economic freedom over the past decade, according to the 2013 Economic Freedom of the World report.

The Fraser Institute's ranking of 152 countries puts the United States at number 17 in economic freedom. In 2000, America stood at No. 2.

"I think I would view the report as a kind of canary in the coal mine," Joshua Hall, a West Virginia University economics professor and one of the report's authors, said.

"These are warning signs that we're becoming over-regulated, we're spending too much, we're racking up too much debt," he explained. "We need to understand that our current economic prosperity was dependent in large part on the government sticking to its core functions."

***So, what's the reason for the big drop and why is economic freedom important from a Christian perspective?

CBN's Efrem Graham spoke with economics professor Brian Brenberg, with The King's College in New York City, to shed light on the topic.

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