*  *  *  The resolution of our current account deficit and household debt burdens does not strike me as overly worrisome, but that is certainly not the case for our fiscal deficit, which, according to the Congressional Budget Office, will rise significantly as the baby boomers start to retire in 2008.
4 In most other countries the central bank, which has the technical expertise over financial markets and is in charge of interest rate policy, is not involved or tends to get involved too late in the process, which may make things more complicated and risk undermining the credibility of any statement or action.