How the Recovery in the US Compares

Pretty well, it turns out.  [HT: WSJ].  We'll never know the precise causal link, but I am inclined to believe that the relatively quick and aggressive fiscal stimulus, along with the very aggressive actions on the part of the Fed, have a lot to do with it.  This seems to be good fodder for the austerity vs. stimulus debate: at least according to these numbers stimulus is winning the short term battle, we'll wait and pass judgement on the longer-term struggle.

Here is the essential chart: