The Great deficit debate: looking for money in all the wrong places

   In the World Economic Forum's Global Competitive Index, Finland (3), Sweden (4) and Germany (6) outrank 7^th-place U.S. In Forbes Magazine's "Best Countries for Business" list, Denmark (3), Sweden (7), Norway (8) and Finland (9) are ahead of 12^th-ranked U.S. (out of 141 nations).

   Yes, the United States does have a "spending problem," but it's due to a hugely wasteful defense budget. This is a major cause of our declining ability to pay for basic social programs that most Americans strongly support, such as Medicare and Social Security.

   But our low ratio of total taxation to GDP indicates there is plenty of room in the American economy for additional tax revenues. The wealth and competitiveness of high-tax economies such as Denmark, Sweden, Norway and Germany show that generous social programs don't undermine economic prosperity.

   The GOP mantra is a groundless dogma.

            

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