Economic Optimism Growing on Wall Street: CNBC Survey
"The (economic) cycle will end with a sharp dollar drop, inflation, interest rate rise, and deficit surge."
Europe remains an important source of worry with 62 percent saying they believe the relative calm on the continent is temporary and only 30 percent saying it's permanent. John Lonski of Moody's wrote, "Possible policy mistakes in the U.S. and Europe are the biggest risk to the adequacy of economic growth in 2013."
Still, there's little doubt the outlook for Europe has improved. Just 10 percent say the European financial crisis is the biggest threat to the U.S. economy, compared with 37 percent in April.