March 5 (Bloomberg) -- The conventional wisdom says the
U.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 projects
accumulated U.S. government debt, as a percentage of annual
economic output, to rise for the next few decades and to
approach or exceed 100 percent, the level that got Europe into
trouble. And then it truly explodes.