Why the US economy is slow.

It boils down to this one chart from PK's blog, if you think about it.

This is the FRED chart showing the same, except a wider view. You can see how real government spending is down, even while private investment has recovered as the previous recession.

So why hasn't the economy taken off, exactly as Conservatives have insisted would occur if government spending decreased?

Conservative pundits about to insist there's a conspiracy in data that shows government spending is down, in 3....2.....1....