Economic reporting through red-colored glasses.(Beat the Press)(econominc condition of United States)

The hand that rules the press ... rules the country--Judge Learned Hand

It was a typical early morning at CBS News, with plenty of light banter and toothy cheer. But there was a problem--the stupid economy.

"The Early Show" was covering a speech President Bush had given about impressive new job-creation figures. "This economy is strong," Bush stated. "Businesses are booming. And the people in this country are working."

The establishment media's preferred storyline is that the economy thrives when Democrats are in the White House. When Republicans are in power, it's time to do stories on homelessness and unemployed steelworkers.

Unfortunately, Bush seemed to have the facts on his side. America had marked ten consecutive quarters of economic growth, with a blistering 4.3 percent increase in the third quarter of 2005. Unemployment, inflation, and interest rates were down, while homeownership, housing starts, wages, disposable income, the stock market, and consumer confidence were up.

All of which had hostess Hannah Storm blowing like a hurricane. Determined to find the dark cloud amidst these silver linings, she brought on CNN's financial meteorologist, Lou Dobbs, for "an economic reality check."

"You know" Storm began, "the President touted a lot of numbers.... But is he on track? Is the economy strong?"