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Repiglican Roast

A spirited discussion of public policy and current issues

Name: TheFuriousGourmet

Location: The mouth of being

I'm furious about my squandered nation.

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Tuesday, September 26, 2006

Bush's World

GENEVA (Reuters) - The United States fell to sixth place in the World Economic Forum's 2006 global competitiveness rankings, ceding the top place to Switzerland, as macroeconomic concerns eroded prospects for the world's largest economy.

In a report released on Tuesday, the World Economic Forum said Washington's huge defense and homeland security spending commitments, plans to lower taxes further, and long-term potential costs from health care and pensions were creating worrisome fiscal strains.

"With a low savings rate, record-high current account deficits and a worsening of the U.S. net debtor position, there is a non-negligible risk to both the country's overall competitiveness and, given the relative size of the U.S. economy, the future of the global economy," it said.

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