Aug. 27 (Bloomberg) -- There is merit to some of the
arguments for continued weak U.S. economic growth in the near-term, though the pessimism about the long-term prospects for the
U.S. economy is unjustified.
Without question, federal government debt, fueled by big
deficits -- which were propelled by weak revenue and jumping
federal outlays -- is a major problem. It’s also true that in
today’s economy, in which voters expect much from government,
the chances are slim that significant and enduring budget
surpluses will reduce the debt appreciably, even in periods of
rapid economic growth.
