Stronger Than We Appear?

Leonhardt strikes an optimistic note:

[I]t’s a good time to remember that when an economy is just coming out of recession, its weaknesses are always more obvious than its potential strengths.

Free exchange interjects:

As things stand, the medium-term outlook for the American economy really isn't that bad. The problem is that the near-term outlook is awful. And the question is: faced with perhaps another year or two of unemployment near 10%, can the government avoid making any serious economic mistakes, which might jeopardise recovery over the long-term?

Justin Fox is not reassured.