U.S. Loses Top Spot to Switzerland In Global Competitiveness Survey

When republicans can’t even make us more competitive in the global economy, you know they’ve come off track.

The U.S.’s huge budget deficit threatens to make the country’s economy less competitive, according to a study by the World Economic Forum, a Switzerland-based institute.

The Forum’s annual study of global competitiveness says the U.S. is only the sixth most competitive economy in the world, slipping from first place in last year’s ranking thanks to mediocre scores for its public finances. The competitiveness study ranks countries around the world according to a range of criteria, including macroeconomic policies, market regulations, technological development, education systems and public institutions, which the Forum believes influence an economy’s level of productivity, and thereby its ability to sustain economic growth over many years. The ranking combines economic indicators with the findings from a survey of business executives.

Switzerland ranks No. 1 in this year’s survey, thanks to what the Forum sees as a combination of efficient public administration and flexible markets. Three Nordic countries, Finland, Sweden and Denmark, come next, followed by Singapore and the U.S.

This seals it. The president and congress can really get nothing right.

(from the Wall Street Journal.)