On Friday we found out that Standard & Poor’s downgraded France’s credit rating. “Debt grade cut from AA+ to AA due to weak economic growth, high unemployment and government spending constraints,” the Telegraph reported. These issues are all too familiar to American readers, many of whom still recall the sting of having our own credit rating downgraded from AAA to AA+.

While the United States has always fancied itself in a league above any individual European country, this news should serve as a reminder that we’re not doing so badly on a relative basis. In fact, compared to the rest of the world’s economies, the United States ranks…

Read the full article on LinkedIn where it originally appeared.