After Coronavirus — The Economic Path Forward
For over 25 years, The Heritage Foundation’s Index of Economic Freedom has been a mainstay in policy discussions in Washington D.C. and around the world. It is a clear example of why free markets and liberty matter when it comes to building a flourishing society. This week, Nick Loris explains a new Heritage report that spells out what the US needs to do to not only increase its ranking, but also to increase the quality of life for our families. Given the rebuilding that must take place after Covid-19, now is the time to implement these ideas of more freedom and less government.
Show notes
Heritage Live Events and Webinars (As mentioned in the advertisement)
https://www.heritage.org/events
Restoring America As Land of the Free (Ways the US can improve their score in the Index of Economic Freedom)
https://www.heritage.org/economic-and-property-rights/report/restoring-america-the-land-the-free
2020 Index of Economic Freedom
https://www.heritage.org/index/ranking
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I beg to disagree on Debt/GDP ratio. Look at this way: our federal debt outstanding around $23 trillion versus GDP $21 trillion. Household networth is about $100 triton, adding business and government assets around another $100 trillion, our national net worth is around $200 trillion. Our GDP is like a gross revenue, so the gross yield is 21/200=11%. We pay 2% debt interest rate. It is a great deal for anyone to have a return of 11% with 2% borrow cost. Money never is wasted and it simply changes pocket. Government allocates money to private businesses that then produce and spend things per their needs and perspectives. Yes we need to cut waste. But end of the day, a family with $200K annual income is OK to a cumulative debt of $210K.