Paul Scott comment: Is this any way to run a government? In Scandinavia, the answer is "yes"

As we embark on the time of year we max out our credit cards, one decorahnews.com reader has passed along a Wall Street Journal article that provides some food for thought.

The article points out that the federal government's debt now amounts to 89 percent of the gross domestic production of the United States for one year.  But not all other countries follow America's example.  Germany, for instance has net debts of 56 percent of one year's GDP.

But to find countries that really spend their money wisely, you need to look at Scandinavia.  Denmark's debts are only 10 percent of that country's annual gross domestic production.

According to the Wall Street Journal, "Norway has by far the strongest finances."  The country decided to use the revenue it got from the North Sea oil boom to set up an investment fund that has been managed fairly conservatively, but now has done so well that Norway has nearly two years' worth of gross domestic product set aside in a reserve fund.

Concludes the newspaper, "If you imagined a country that managed its financial affairs perfectly, it would look like that."