A good article in Forbes about how US, UK and Germany are approaching economic recovery. Germany and UK have put forth fiscal sustainability (read spending cuts) at the top. Other countries like Spain and Greece had to do it by force. US, on the contrary, opted for massive spending with no plan for spending cuts. US says that the urgent need is to have the economy back on track and then fiscal deficit is a medium term problem.

Only time will tell how each of the strategies will pan out in future. Failure of either strategy is not good for our world.