Sure the sun came up this morning, but it's just not that simple.

Our moral and intellectual superiors at the NYT are trained economists.

I guess. I don't know. They sure aren't journalists.

Gasoline is cheaper than it was before Hurricane Katrina slammed into New Orleans. Consumer confidence jumped last month and new home sales hit a record. The stock market has been rising. Even the nation's beleaguered factories appear to be headed for a happy holiday season.

By most measures, the economy appears to be doing just fine. No, scratch that, it appears to be booming.

But as always with the United States economy, it is not quite that simple.
(Thanks to Drudge for the heads up.)