Healthy Balance Sheets

For most of this year - there has been a lot of talk in general about how great the balance sheets of US companies are. That has always seemed odd to me... how is it that they have been spending money for years like there is no tomorrow, then the economy goes in the toilet, and now all the sudden everybody is doing great?

I saw this article today that might explain it:

http://www.marketwatch.com/story/the-biggest-lie-about-us-companies-2010...