Good News: World Economic Forum Ranks U.S. 46th for Manageability of Public Debt

Every year, the World Economic Forum publishes a Financial Development Report (PDF), which -- among other measures -- ranks 60 of the world's largest countries for their financial stability.

The news for the United States is decidedly poor: due to the phenomenal (and some would say historic) levels of debt rung up by President Obama and Democrats, who have gone a record 1,100 days without passing a budget, it ranks the United States 46th of 60, behind such stalwarts as Turkey, Tunisia, Pakistan and Spain.

Even better, the U.S. is ranked 55th for its high frequency of banking crises (fun reference quote, courtesy of Joe Biden: "The first guy we called for economic advice is Jon Corzine.") and 51st for the "distortive effect of taxes and subsidies on competition" (additional fun reference quote from President Obama: "The true engine of economic growth [is] companies like Solyndra.").

The policies of this administration are literally turning the United States into a third-world country.