Economics: once called the "dismal science" has progressed to the "incomprehensible science." Two economists can look at the same data and derive opposing conclusions based on their preconceived notions. While the rest of the world sees failed policy, overwhelming government debt, and high unemployment, the economist says:
"... one could argue better output performance could have been achieved with more government spending.... None of the foregoing should be construed to be an argument that the recovery is as strong as it could be. In point of fact, we know that had policymakers implemented a larger stimulus package in early 2009, additional infrastructure investment, as well as more aggressive job creation measures (e.g., tax incentives for new job creation), we would likely have had more rapid growth." [source]You see, it's just that the government hasn't spent enough. The recovery [somewhere out there] would be stronger if the government had spent more on "shovel ready jobs."
[source]
Strange how there is so much concern ... world wide ... about government debt. Maybe there just isn't enough.