After Coronavirus -- The Economic Path Forward
Heritage Explains
Heritage Podcast Network
4.7 • 847 Ratings
🗓️ 8 May 2020
⏱️ 20 minutes
🧾️ Download transcript
Summary
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)
Restoring America As Land of the Free (Ways the US can improve their score in the Index of Economic Freedom)
2020 Index of Economic Freedom
US Compared to the World In Terms of Fiscal Health Chart:
Transcript
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| 0:00.0 | From a tiny closet studio sandwich between neckties and suit coats, I'm Tim Desser, and this is Heritage Explains. |
| 0:15.3 | President Trump's policies to rebuild the economy have put us into a powerful prosperity boom. And there is no end |
| 0:25.0 | in sight. Let's not make this any harder than it needs to be. Low tax rates, regulatory rollback, |
| 0:32.6 | energy openings, trade reforms, growth, growth, growth, growth. That was the president's head economist Larry Cudlow last year, talking about the economy. |
| 0:42.3 | Isn't it amazing the difference a year and a global pandemic makes? |
| 0:47.3 | The White House is grappling with devastating news on the economy as some advisors to the president |
| 0:56.1 | are warning of unemployment numbers straight out of the Great Depression. |
| 0:59.5 | Jay Crewe has just announced it's filing for bankruptcy protection. |
| 1:04.0 | It's the first national retailer to take this action since the pandemic forced a company |
| 1:08.2 | to temporarily close all of its jay crew and made well |
| 1:10.9 | stores. You're seeing the stock market move well below that. Right now it looks like the Dow is |
| 1:14.9 | down by about 6.9%. This is some massive pressure. If you haven't looked at 401k over the last |
| 1:20.7 | couple of weeks, I wouldn't recommend doing it today because just over the last two weeks, |
| 1:24.5 | we had already seen the markets down by about 12% a little more than that. |
| 1:27.8 | We cannot go back to normal until we have vaccine. There is no business as usual. Things will change. |
| 1:38.5 | Now this is just a small glance at what happens when you shut down the engine that is the U.S. economy. |
| 1:47.1 | Everything changes. |
| 1:52.3 | For the most part, we're the beneficiaries of a great economy because our system is based around free market ideas. |
| 2:00.0 | Economic freedom works. All around the world, |
| 2:03.8 | we see what is possible when freedom prevails. And we believe it's okay to ask, how can we make |
| 2:11.3 | things even better? So that's what we're going to do on this episode. |
| 2:26.1 | Every year, the Heritage Foundation measures countries on how free their economies are by examining several factors, including rule of law, size of government, regulatory efficiency, and |
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