The "insignificant" gap gets more significant when you remember that the US spends on average more than $3000 more per student per year. It says that the US could cut costs by a third without hurting education in the least. Just where is that $3000+ going?
http://super-economy.blogspot.com/2010/12/amazing-truth-abou...
http://super-economy.blogspot.com/2011/01/how-well-do-above-...