A realistic view of the economy would include the problems in the housing market and high unemployment, either of which could derail the recovering economy. It would also include the increasing deficit and the recent extension of the tax cuts and the unrealistic change in the estate tax -- all negatively impacting a healthy recovery.
Another undiscussed element is government stimulus -- in many forms. The government is still the biggest contributor to the recovery through a multitude of stimulative and protective programs, some that are conveniently hidden from public scrutiny.
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