Suddenly many of the old threats to the U.S. economy do not seem very threatening.
Inflation is nonexistent.
The federal deficit has been eliminated. In both of these cases, substantial federal and private funding gave rise to innovations that make much of today's growth possible. But future progress in these areas is by no means guaranteed. It will require the same farsighted policies and investments that spawned the current wave of opportunity. Already there are challenges looming that threaten to undermine long-term prospects for growth.