Americans have always wanted to make a better life for their children than the one they inherited. Generation after generation has succeeded in accomplishing this goal because free markets have allowed innovative people to reach their full potential. Government did not make that happen. The people did.

We can look with optimism toward the future if we honestly address the challenges that face us. Our nation has many advantages. We are rich in natural resources, awash with capital and home to many of the finest universities on earth. Historically, a relatively small government and low taxes could be added to that list. It should alarm Americans that a recent study of economic freedom ranked the US only fourth in the world. While economic freedom is hard to measure, we must not forget the formula that has made the US the most remarkable economic success story in the history of the world.