Absolutely not. Circumcision is nothing more than a ritualistic mutilation of a child's genitals that serves no medical purpose whatsoever and ultimately robs the child of his right to genital integrity. The myth that male genital mutilation is somehow cleaner or more healthy has been disproved time and time again - there is nothing dirty or unhealthy about foreskin. It is natural. It has a purpose. It is NOT a birth defect.
Circumcision is indeed painful to infants (especially since it is often done without anesthetic), and to claim "they won't remember anyway" is a poor excuse. Most countries have already recognized female genital mutilation as morally wrong and illegal however male genitals are not protected under the law.
One major reason circumcision is prevalent in North America is John Harvey Kellogg (yes, the corn flakes guy) and his puritanical views on masturbation: "A remedy which is almost always successful in small boys is circumcision... The operation should be performed by a surgeon without administering an anesthetic, as the brief pain attending the operation will have a salutary effect upon the mind, especially if it be connected with the idea of punishment." But not only did he advocate circumcision of males..."In females, the author has found the application of pure carbolic acid to the clitoris an excellent means of allaying the abnormal excitement."
The ritual endured while the medical community desperately tries to find reasons for it to continue and one cannot ignore the millions of dollars this surgery rakes in. This site has a lot of factual information and research on the procedure: http://www.cirp.org/library/complications/gracely1/
To see exactly what is lost to circumcision, see this list: http://www.cirp.org/pages/parents/lostlist/
To see how simple it is to care for the intact penis, see this: http://www.cirp.org/library/normal/aap/ and compare it to care for the circumcised penis: http://www.cirp.org/library/complications/gracely1/