At these levels the "recovery", i.e; the positive growth rate of GDP, will fail before the November elections. In any case the real driver of any recovery, the increase in disposable income, for the vast majority of Americans has yet to materialize.
All the increase in income and wealth is accruing to the 1%, who are siphoning off this wealth, hoarding it and shipping it offshore. The economy is a pyramid with the 1% at the pinnacle. However they are destroying the base of the pyramid, the workers. Eventually we will reach (have reached?) a tipping point where the top 1% will no longer have a base to stand upon, and the entire economy will crash and have to be rebuilt from scratch.
At this point the economy is simply a snake eating its tail.