Why is carbon monoxide more dangerous than carbon dioxide?

The hemoglobin in your red blood cells bond with oxygen and transport it to cells for cellular respiration (to live). Carbon monoxide possesses a chemical/electronic structure similar to that of oxygen and competitively binds to hemoglobin. This all means, if you take a breath of air that contains equal amounts of oxygen and carbon monoxide, the carbon monoxide will kick oxygen out of the way and bond with hemoglobin (blocking the bonding site) thus no oxygen can be transported to your cells, meaning you suffocate (even though there is enough oxygen available).