How is the US economy doing?

GDP: the US is doing better than Europe or Japan:
GDP, US vs the rest of the West

Unemployment: the US doing much better than Europe:
Unemployment, US vs Europe

Different economic policies, different outcomes. Europe and Britain have run austerity programs, cutting spending while the US increased spending and cut taxes.

Not unexpected, given what happened during the Great Depression, with the US economy quickly improving as New Deal spending programs kicked in, then falling back into recession after federal spending was cut in 1937 when the economy was still weak:

Obama has done better than any other world leader during the financial crisis and the recession it caused. Not that he’s done super–unemployment is still at 8%. An extra $500 billion of Fed spending until the unemployment rate drops below 6% would be a much better policy than the current US policy to cut spending.

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