Just about anyone with a political tie to the administration, and I mean ANY administration, who talks about a failing economy is behind the curve. What they say is so far behind the reality as everyone else who has observed the scene as to be a bit embarrassing. This is not limited to Bush, even though played out in spades by his folks.

Here's Bernanke. This article really rates a "duh!"

However, if the stock market were rising, housing values up, borrowing down, he'd be proclaiming the utopia of the future, something unseen by ordinary mortals.

I can understand, a bit, his desire to paint a rosy picture. And I believe he's paid to identify reality, what is, not whatever he thinks should be promoted. I think the people out of a job deserve to have the Fed understand that the market has been under stress for quite some time, and that that uncertain outlook has certainty for some. And it's grim.

Arf