After Elections, a Glimmer of Fiscal Hope: Simon Johnson
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March 5 (Bloomberg) -- The conventional wisdom says theU.S. is doomed, fiscally speaking. In most economic forecasts,annual budget deficits stretch as far as the eye can see.
The authoritative Congressional Budget Office projectsaccumulated U.S. government debt, as a percentage of annualeconomic output, to rise for the next few decades and toapproach or exceed 100 percent, the level that got Europe intotrouble. And then it truly explodes.