A Gramm of Truth

Could it be that Americans have brought this economy to the brink of recession simply by thinking it? Could it be that our nation’s leaders have failed to repudiate the assumption of economic failure even though they knew it to be false? Could it be that Phil Gramm is right — have we become a nation of whiners?

Last week, Gramm was denounced for commenting that our country is not suffering an economic recession, but a mental one. The fact of the matter is, he’s on the mark. Did his candor lack compassion? Perhaps. But any basic Econ 101 student could tell you America is not in a recession. By definition, a recession is when an economy shrinks two quarters in a row. In reality, the United States grew 0.6 percent each of the past two quarters, according to the Bureau of Economic Analysis. Now, 0.6 percent is nothing to write home about, but it’s growth; and that means the “recession” definition need not apply.

Sadly, members of Congress have done nothing to convince us we aren’t actually in a recession either. After all, it doesn’t fit their MO going into Election Day. If they can blame someone or something else and sidestep the tough choices (and tough words) to avoid blame, then you can bet they’ll do it. If everyone’s the victim, then no one’s the perpetrator, and that includes the policymakers. So they step carefully, often avoiding the decisions that would make a difference, and walk the path of least resistance.

Beyond pointing out that we are only in a mental recession, Sen. Gramm called America a nation of whiners. Well, are we? Let’s see, we whine because we don’t go to work. And when we do have a job, we whine because it won’t pay enough. We whine that some people have too much money. We whine that we don’t have enough. We whine because some guy says we whine! I’m just saying — maybe he has a point.

There is no denying our economy is not growing at the pace of a China or India. But simply because we aren’t growing quickly enough does not mean we’re receding. We have scared ourselves into thinking the economy is headed toward depression; and Congress is doing nothing to change our minds or the policies. They have simply accepted our whining and helped us pass the buck to the president, to immigrants, to outsourcing, to anyone but themselves.

If we want to talk about the loss of American competitiveness, let’s blame our own ineptitude that is keeping us from researching, analyzing and thinking for ourselves. Our parents and grandparents didn’t just sit back and let others tell us what to do or think. Perhaps we should follow their example and ignore what Washington thinks is best.