Or so says CNBC:

Top U.S. officials on Saturday offered reassurances that the worst of the economic downturn is likely over, helped by unprecedented efforts to keep credit flowing.

Two Federal Reserve policy-makers, Vice Chairman Donald Kohn and New York Fed chief William Dudley, both pointed to signs that measures taken by the U.S. central bank are indeed working to help revive the economy.

There is bad news: recovery is likely to be slow.

As far as I am concerned, it will indeed be slow, and the reason for it is not that the American economy is not flexible enough. No, we have far-left economic plans to blame for that.

The Congressional Budget Office immediately said that the Obama plan would hamper economic growth in the long run.

It’s the Great Depression all over again. Economists now know that FDR’s New Deal plans delayed economic recovery. Obama’s plans will do the exact same thing. But fear not: he will claim credit for recovery eventually nonetheless.

The only question is whether voters will fall for it or whether they will realize that Obama was willing to let them suffer a bit more in order to accomplish his goals for society at large.