Robert Samuelson has an
important column on middle-class economic anxieties. By most
objective measures we are doing better, but there are fewer
guarantees: that well-paying job could be downsized, your
investments and 401(k) could go south, your health insurance
premiums could rise and eat into any income growth you experience,
you might be pushed out of your job in your 50s, etc. That's why I
think it is a mistake for conservatives to simply talk up the
economy by pointing to historically low unemployment, household net
worth increases, GDP growth rates since 2001, and other measures in
an attempt to (rightly) defend the Bush tax cuts. What's going on
is more complicated than that and trying to reassure people about
the economny by citing these statistics misses the point. Neither
the Pollyanna nor doomsday scenarios are quite true.