President Obama's unprecedented regulatory
agenda is driving both foreign and domestic capital out of the United States.
For now, the U.S. fortunately is still the top destination for investment in
the world. Foreigners have invested more than $3.5 trillion in the U.S. economy, more than triple the share of
the next-closest economy. But that edge is slipping. In 2011, foreigners
invested $227 billion in the United States. That dropped to just $147 billion
in 2012, a drop of more than 35 percent. And the decline occurred during what
was supposedly an economic recovery…….
Developing
countries are growing faster, 95 percent of the world's population lives
outside the U.S., and other countries are embracing free markets for the first
time. But, as Cato scholar Daniel Ikenson notes in a new paper,
some of that decline in investment is also due to the deteriorating business
climate in the U.S. As recently as 2000, the U.S. ranked second in the annual
Economic Freedom of the World Report. It fell to eighth by 2005, and all the
way to 18th after just four years under Obama. The main driver of the fall is
heightened regulation.……According to the Heritage Foundation, Obama has inflicted nearly $70
billion worth of regulatory burdens on the U.S. economy since he was sworn into
office, including $23.5 billion in new regulatory costs in 2012 alone.…..To Read More….
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