Richard Jefferson and his U.S. teammates often found the basket as elusive as a win in the 2004 Olympic Games. Jesse D. Garrabrant/NBAE via Getty Images

When it comes right down to it, basketball is still a shooter's game. Especially international basketball. And on Friday, the U.S. once again simply didn't shoot the ball well enough, succeeding on only 32 of 77 shots (41.6 percent) -- including 3-of-11 from 3-point range -- against Argentina in the Olympic semifinals. Argentina, on the other hand, shot 32-of-59 (54.2 percent), including 11-of-22 from long range, in its convincing victory. Not coincidentally, the eight-point difference in 3-point shooting accounted for the spread in Argentina's 89-81 triumph. One need look no further for a reason behind the loss. The U.S. outrebounded Argentina 36-32, they enjoyed a 21-14 edge in turnovers and they stayed even in foul shooting.

But once again the Americans were the Gang That Couldn't Shoot Straight. After their quarterfinal triumph over Spain on Thursday, in which they made 12-of-22 from downtown, the U.S. was feeling better about its outside shooting. But Team USA reverted back to form against Argentina, a team that does a better job defending the arc than the Spaniards. And with Tim Duncan once again saddled with foul trouble, the U.S. couldn't afford to miss open shots.

The U.S. tried to use its defense to stay in the game, but Argentina was too sharp. The U.S. forced just one 24-second violation all game, as Manu Ginobili and Co. ran the Argentine offense with precision. The gold-medal finalists passed, cut, screened and usually knocked down shots when they got open looks.

This was no one-man effort: Manu Ginobili (9-of-13), Alejandro Montecchia (4-of-7, 3-of-6 from downtown) and Andres Nocioni (5-of-8) all burned the U.S. defense. Even pony-tailed wildman Walter Herrmann came off the bench to hit 4-of-8, including a killer trey.

It all added up to a game in which the Argentines were in control most of the way. The U.S. mustered a surge in the third quarter to pull within 60-54, but Montecchia and Ruben Wolkowyski (yes, the Sonics reject) hit back-to-back three-pointers to put the 'Tines back on top by 12. Team USA then staged a final mini-rally late to pull within 81-73 with 2:40 to play and made a tough defensive stand to get possession. But Richard Jefferson clanked a three-pointer from the corner, and Hermann bulled his way inside for a layup that effectively ended Team USA's hopes.

U.S. coach Larry Brown will have to answer some tough questions after this loss. For one, why did he leave Duncan in the game after he picked up a third (phantom) foul early in the third quarter? Duncan picked up his fourth minutes later and had to go to the bench for the final seven minutes of the quarter. Also, why didn't the deep and more athletic U.S. squad press more against an Argentinean team that had played a late game the night before? But Brown can hardly be blamed for this U.S. failure to bring home gold. The Hall of Fame coach surely had good reasons for his strategies. The bottom line is this U.S. team was poorly constructed, with not enough shooters to make foes pay for ganging up on Duncan.

Team USA lost three times in these Olympics, and in each case it was mainly because of 3-point shooting. The U.S. couldn't make any. They couldn't stop their foes from making them. And as a result Team USA now goes home without a gold medal for the first time since 1988.

Marty Burns covers pro basketball for SI.com.