The Canada-based Fraser Institute has released the ninth edition of its annual report, Economic Freedom of North America 2013, in which the respective economic situation and government regulatory factors present in the states and provinces of North America were gauged.

After ranking 2nd in 2000, the U.S. falls to 17th in this year’s report. As the authors explain:

Unfortunately for the United States, we’ve seen overspending, weakening rule of law, and regulatory overkill on the part of the U.S. government, causing its economic freedom score to plummet in recent years. This is a stark contrast from 2000, when the U.S. was considered a bastion of economic freedom and ranked second globally.

A PDF version of the report is available here.