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The Strong Case for Optimism About U.S. Growth

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.