"The flimflammery of official statistics ... "

The country has been in denial for years about the economic reality facing American families. That grim reality has been masked by the flimflammery of official statistics (job growth good, inflation low) and the muscular magic of the American way of debt: mortgages on top of mortgages, pyramiding student loans and an opiatelike addiction to credit cards at rates that used to get people locked up for loan-sharking.

The big story out of Mr. Bernanke’s appearance before the Joint Economic Committee was his prediction that the economy was likely to worsen. Only the people still trapped in denial could have believed otherwise.

This is what Representative Maurice Hinchey of upstate New York told the chairman:

“This economy is not doing well. And the example of the mortgage closures on 2 million people — and maybe a lot more than that as time goes on — is really not the cause of the economic problem we’re facing, but it’s just a factor of it. It’s a factor of the weakness of this economy.”

In an interview after the hearing, Representative Hinchey discussed the disconnect between official government reports and the reality facing working families. He noted that the unemployment rate does not include workers who have become so discouraged that they’ve given up looking for a job.

And the most popular measure of inflation, the Consumer Price Index, does not include the cost of energy or food, “the two most significant aspects of the increased cost of living for the American people.”

The elite honchos in Washington and their courtiers in the news media are all but completely out of touch with the daily struggle of working families. Thirty-seven million Americans live in poverty and close to 60 million others are just a notch above the official poverty line.

- Bob Herbert
Recession? What Recession?
OpEd - NYTimes
Saturday, November 10, 2007

When the labor movement in the United States failed to fight for the right of every person willing and able to work to be able to work at a job that at least paid a living wage for a worker's family, the labor movement failed the worker and his/her family.

The principle of having a job that pays a living wage for a worker's family for everyone willing and able to work is NOT socialism, communism or even unionism. It is the cornerstone of a free society.