Over at the streetlight blog, Kash makes four observations why he is hopeful for this recovery.
He first notes that U.S. Manufacturing is performing very well. This is an observation that we've been making for quite some time. In fact, manufacturing was one of the first areas of the economy to turn around after the recession.
Next, Kash notes exports have been increasing. Thanks to growth in emerging markets, this trend should continue for the foreseeable future.
Businesses have also been investing in their infrastructure. For the last four quarters, business investment has grown at very large rates. While the pace of increases is slowing, there is no reason to think it will slow to a negative pace.
Finally, households have been paying down debt. This is an observation that new deal democrat has made repeatedly for the last 6 to 9 months. By lowering their total amount of debt, households are increasing their ability to participate in the recovery.
I would encourage you to read the entire article.