That is totally unsustainable.
As the borrowed money dries up things will return to their downward trend until Obamacare and his endless spending and new taxes finally die. If those things do not die, things are going to be meager for years to come.
Households are saving 5% of income now, they were saving zero at the top of the bubble. It was the top of the bubble that was unsustainable.
Yes federal spending needs to come down and Obama isn't helping. But health care and cap and trade are both dead, and the right is headed for major gains in November. The economy will recover and usual, and the right would be well advised to be ready for that inevitable development when it happens. If all they've done for two years is stand on a streetcorner screaming "doom, doom" and there is no doom in 2012, they are going to look awfully silly.
They ought to be highlighting the differences between the Fed's actions, which were entirely effective, and boon doggle giveaways on entitlements. But instead the entire populist set is in full cry against finance as such. Dumb.
Things are not going to be "meager for years to come". Unemployment will remain high for several years, most that can be said on that score.