The Case for Economic Optimism

Expectations have been lowered. The savings rate is up. Mortgage rates are at record lows. The stock market still has room to run. The next decade may turn out better than expected.

The daily economic headlines are depressing. But what I find really troubling is how dark the mood gets when the discussion turns to the longer term outlook. It's easy to see why. For example, the Congressional Budget Office projects the federal debt will reach 70% of gross domestic product by year end, the highest percentage since shortly after World War II.

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Chris Farrell
Contributing Columnist,