The weak dollar and the ballooning deficit have many experts worried about the future of the U.S. economy and standard of living.
But other economists, Stuart S. Brown and Robert Z. Aliber among them, claim that it's just fine for the world's greatest power to be the world's greatest debtor. They also argue that the U.S. dollar will remain dominant in global trade despite its depreciation in value against the euro.
Hear about the myth of American economic overstretch and what the real picture of the U.S. economy looks like.
Stuart S. Brown, co-author of the article "The Overstretch Myth" in the recent issue of Foreign Affairs Magazine, professor of economics and international relations at Syracuse University
Robert Z. Aliber, fellow at the Woodrow Wilson International Center for Scholars, professor emeritus of economics and finance at the University of Chicago
Jack Beatty, On Point news analyst.
This program aired on March 7, 2005.