These days, Bush boosters like to pay attention to employment figures, which are important, but they don't like to discuss the fact that real wages have stood still while productivity has risen. The problem with the economy is not employment, and I haven't heard anyone lately suggest that it is. There are more than one measures of economic health. Right now, the economy as a whole is actually doing pretty well, but all the spoils are going to the top. This only makes sense if you're prepared to say that American workers had little to no role in this increase in productivity. This is the general public sentiment, and it's not because of the almighty leftist propaganda machine.

On top of that, there are indicators of trouble to come. The cooling housing market could cause serious problems, since that has been the primary engine of growth over the last few years. People are leveraged up to their eyeballs on real estate, and the economy is under pressure from both sides; inflation from China and the Fed thinking seriously about raising interest rates to combat that. We have a very thin line to walk here. With so much household credit, any serious problems could lead to a domino of defaults. I'm definitely not saying this is guaranteed, but there definitely is real danger.

Yeah, it's a little more complicated than the employment numbers alone.