We’re Number 7!
The United States dropped in the Global Competitiveness Index ranking for the fourth year in a row because of exploding debt and deficits.
The United States just dropped to seventh place on the World Economic Forum’s newly released Global Competitiveness Index.
iStock Analyst reported:
The U.S. dropped to No. 7 on the World Economic Forum’s newly released 2012 Global Competitiveness Index report. Switzerland retained its top position as the most competitive nation, followed by Singapore, Finland, Sweden, the Netherlands and Germany.
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Asian countries continue to be among the most competitive—and many are gaining strength. Among the top 20, five are from Asia. Compared to last year’s ranking, Singapore retains its No. 2 spot, Hong Kong gained two positions, Taiwan remains No. 13, Korea advanced five spots and Japan dropped one position.
One year ago this week the US was downgraded for the first time by Standard and Poors.
The Obama deficit just topped a trillion dollars for the fourth year in a row with a month left in the fiscal year.