During the 20th century, the American economy led the rest of the world. But now, America is beginning to stumble over hurdles other countries don’t have. America is falling behind, but this is far from over. Our best days are still ahead.
- The United States emerged as the largest world economic power shortly before 1890, when it supplanted the previous global giant: China. (Source: CNN Money)
- The United States has the world’s highest corporate tax rate. (Source: CNN Money)
- The annual cost of federal regulations in the United States is more than $1.75 trillion. (Source: Small Business Administration, Office of Advocacy)
- Total federal debt in the United States is approaching $16 trillion. (Source: U.S Department of Treasury)
- China will overtake America’s economic output in 2018. (Source: The Economist)
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