Why are we settling for 12th place?

With the Olympics coming up, I think it's safe to say that most Americans count on U.S. athletes being among the best in the world. But while we may push ourselves to run faster, jump higher and train harder and be the best in athletics, our country is settling for 12th place when it comes to economic freedom.

Over the last 20 years, the Index of Economic Freedom has shown the United States' decline.  This year marks the first time America has failed to crack the top 10 freest economies in the world.  When President Obama took office, the U.S. was ranked 6th, but now we're No. 12.  

So who ranks above us?  Some of them may surprise you:

(Image: Screengrab/Heritage.org)

Via the Heritage Foundation:

Over the 20-year history of the Index, the U.S.’s economic freedom has fluctuated significantly. During the first 10 years, its score rose gradually, and it joined the ranks of the economically “free” in 2006. Since then, it has suffered a dramatic decline of almost 6 points, with particularly large losses in property rights, freedom from corruption, and control of government spending. The U.S. is the only country to have recorded a loss of economic freedom each of the past seven years.

Exit question: Why are we settling for No. 12?