US spending on education (total and per capita) is skewed upwards because salaries are comparitively higher for teachers, administrators, engineers, support staff, and janitors:
Teacher Average Salary Income - International Comparison


a better measure of comparitive spending on education is % of GDP, putting usa #45 in global ranking:
NationMaster - Public spending on education, total > % of GDP (most recent) by country
maladroit Reviewed by maladroit on . Once we are done fixing iraq can we fix our schools? saw a bumper sticker that said this :) Rating: 5