Tuesday, October 29, 2013

US Out of Top 20 in Global Economic 'Prosperity' Index


The U.S. tumbled out of the top 20 most economically prosperous nations in an annual measure of wealth and well-being compiled by the Legatum Institute, falling below France and China.

While the U.S. rose one place to 11th position in the London-based research group’s overall prosperity index, it was downgraded in a gauge measuring economic strength. In a month in which lawmakers shut the government and struck a deal to avoid default only as the clock began running out, faith in the U.S. government also fell to an all-time low.

“The U.S. can no longer be seen as the most prosperous nation in the world — indeed it’s no longer even in the club,” said Jeffrey Gedmin, the institute’s president and chief executive officer. “This year’s index shows that Americans are suffering increasing hardship as a result of the country’s economic condition.”

More @ Money News

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