NVDL: I have a less rosy and more practical view than Obama. America will not rebuild, it will contract, and this contraction is not going to be temporary, or short term, or even medium term. It is likely to last for decades, if not generations. The way we have lived for the past century is over. Concepts we have grown used to are now obsolete - suburbia, globalisation, outsourcing, free trade, derivatives etc.
That word 'recovery' has a nice ring to it, but rather what we will see is Disease Care. Imagine the world's economies are a terminally ill patient and you're closer to the reality of it.
The fact is, our economy did not fall into decline overnight. Nor did all of our problems begin when the housing market collapsed or the stock market sank. We have known for decades that our survival depends on finding new sources of energy.
Now is the time to act boldly and wisely – to not only revive this economy, but to build a new foundation for lasting prosperity.