
Last October my father drank
the Phil Gramm Kool-Aid, insisting that the current recession was mostly in people's heads. "It's not that bad," he said, my mouth agape at the length to which his ultra-conservative mind has stretched credulity. "People are just afraid to spend money, making everything worse."
It gives me no small pleasure to watch him eat his words in 2009. Things have gotten worse, not better, and it's happening on the outside -- in the real world -- as much as it's happening inside the minds of the American public. Even outgoing US Treasury Secretary Hank Paulson insists we're in the middle of a worldwide economic crisis. Heck, he even
has a good idea what caused it in the first place.
But Forbes writers Brian Westbury & Robert Stein
skip merrily ahead and assure us that the worst is behind us. While they may have some iffy data to convince themselves (and probably my father) that things aren't as grim as the media (and what they call "conventional wisdom") convey, I remain unconvinced and unamused.
Their circus of logic comes to a climax when they argue that "the decline in gasoline prices alone is saving consumers $410 billion in annual expenditures. In size, on an annual basis, this is similar to the government 'stimulus' measures now under consideration."
What exactly do they mean by this? Are we supposed to swallow the insinuation that the stimulus package shaping up on Obama's desk is superfluous in the light of the savings Americans are getting at the pump? Please. Like Phil Gramm, these two clowns are so far out of touch with reality that it bends the mind.

Half a million people
lost their jobs last month. Unemployment
is now at 7.2%, the highest its been since 1993. Over a million homes have been lost to foreclosure since the housing crisis hit back in August 2007,
according to CNNMoney.com. Economists warn that we could be headed for
the worst recession since World War II. Every news podcast I hear has one economic expert or another singing variations of the same tune: "The worst in recorded history," "Getting worse, not better," or my other favorite, "Much worse than initially thought."
How can Westbury & Stein maintain a straight face while telling us that things aren't really so bad? Do they honestly think that the scores of families now struggling with foreclosures, unemployment and financial ruin will be OK because they just saved $30 at the gas station? Or maybe -- and this is an even more chilling possibility -- things have gotten so bad, even the slightest hint of a hint of an uptick is enough to drive economic observers into an orgy of optimism that eclipses even Barack Obama's.
Either way, I'm not happy. Turn it down to seven, guys. People who stumble upon your article while waiting in line for unemployment benefits -- probably the same people who also just lost their homes -- won't share your enthusiasm. Nor are they likely to share your belief that this whole mess is in the process of fixing itself, and that further government intervention is a bad idea. (I'm not kidding about this point - they really do insist that Obama's proposed stimulus plan will do more harm than good in the long run.)
I'm all for rallying the troops and getting America excited about a turnaround, but we risk alienating our disaffected if we slam on the gas too hard. Let's work on
cautions optimism, at least until we start seeing some real honest-to-goodness turnaround. Anything less will smack of classism and economic
Marie Antoinette-ism, attitudes we cannot bear at this fragile point in our history.