Ellington

Economists have this to say to those of you who see your family's economic fortunes on the decline: "Don't be so glum, chum!"

In a recent poll, only 19 percent of Americans said that our country is headed in the right direction, and a majority is pessimistic about the nation's economy. This seems to baffle such high-powered thinkers as Alan Binder, a former member of the Federal Reserve board and consultant to some top Washington politicians. Guru Binder has declared, "[P]eople are more sour about the economy than the data would seem to warrant."

Could someone buy this guy a clue? The problem with data, Mr. Binder, is that we can't eat it, gas up our cars with it or put it in the bank. Yes, the numbers might convince highly paid eggheads like you that America has been booming. However, the incomes of the workaday majority of Americans have not even kept up with inflation. It's not anxiety that's fueling people's glumness—it's reality.

Binder should chauffeur out to just about any working-class neighborhood in America, where he'd get an earful of reality. For example, Shari Joos, a 45-year-old mother of four living in Southeast, Ohio, would love to give the economist some data.

As she told The New York Times, she and her husband were pulling down $30,000 a year—until he got laid off from his factory job. Ms. Joos now works from 9:30 a.m. to 1 p.m. at a school cafeteria, then drives to a Wal-Mart to put in a 2-10 p.m. shift at the deli counter. Her husband did find another job—driving a forklift for Wal-Mart. It pays less than he was making, plus it's an hour-long drive from home, so the gas cost eats up his paycheck.

His shift ends at 2:30 a.m. "We never see each other," Ms. Joos says, adding, "We never even think of taking a vacation."

That, Mr. Binder, is why people are a bit sour about the economy.

Jim Hightower is a national radio commentator, writer, public speaker and author of "Thieves In High Places: They've Stolen Our Country And It's Time to Take It Back." He says he has taken on the role of battling the Powers That Be on behalf of the Powers That Ought To Be—consumers, working families, environmentalists, small businesses and just-plain folks.

Previous Comments

ID

76054

Comment

Tell it like it is! I think that a lot of the economists are out of touch with what regular folks are dealing with. Numbers only tell so much.

Author

LatashaWillis

Date

2008-02-06T23:32:13-06:00