David Brooks is clueless:
Over the past months, we've seen a fascinating phenomenon. The public mood has detached from the economic cycle. In normal times, economic recoveries produce psychological recoveries. At least at the moment, that seems not to be happening.
The U.S. has experienced nine straight months of slow economic growth. The unemployment rate has fallen, and, in March, the U.S. economy added a robust 216,000 jobs. Yet the public mood is darkening, not brightening. The New York Times/CBS News poll showed a 13 percentage point increase in the number of Americans who believe things are getting worse. The Gallup Economic Confidence Index is now as low as it has been since the height of the recession.
Brooks attributes this pessimism to policy stagnation and political gridlock, but -- to me, at least -- there's a much simpler explanation: jobs. Yes, GDP is growing, but unemployment remains high, and in economically hard-hit areas -- like much of the Midwest -- there's no particular reason to be optimistic about the present.
That said, Brooks is a wealthy member of the professional commetariat, and in all likelihood, is completely disconnected from the economic hardships faced by millions of ordinary Americans. Otherwise, he wouldn't write things like this:
There is a negativity bias in the country, especially among political independents and people earning between $30,000 and $75,000 (who have become extremely gloomy).
Between the rising costs of health care, education, housing, and food, it's no real shock that people earning between $30,000 and $75,000 are unhappy with the current state of affairs. That this is a surprise to Brooks (and presumably, other pundits) is a perfect example of elite isolation from the rest of America, and an excellent explanation for the Beltway's embrace of Paul Ryan's budget plan. It's easy to support lower benefits and draconian cuts when you rarely interact with individuals and families who make below six figures and rely on those programs for their economic security.
