John Block Reports from Washington

Hello everybody outthere in farm country. Is there any good news? Why didn't we hearabout it? Seventy percent of individuals say the "economy isgetting worse." Attitudes like this can become a self-fulfillingprophecy. I don't think our sour mood is justified.

Our unemployment ratehas held at a very low 4.7%. Just about anyone that wants a job canfind work. European unemployment is twice what ours is. Our dynamiceconomy has created 8 million jobs since 2003. I don't think it is acoincidence. That was the year of the Bush tax cut. In that timeframe, wc have experienced a 30% increase in our national net worth.Our trade deficit is falling, coming down by $8.3 billion in the pastyear. Exports are up.

We have had 6 years ofuninterrupted growth. At $29 trillion, U.S. households have more netfinancial assets than the rest of the world combined.

Those are the realnumbers from the whole country. The news from farm country and ruralAmerica is even better -the best I can recall in my lifetimc. Netcash farm income is forecast at a record $86 billion this year. Thelast 4 years have set records in net cash farm income. And I mustadd, 2008 looks just as good. Real estate values this year will be upabout 14%. Our debt-to-asset ratio is 10.7%. That is so healthy --just remarkable.

I don't suggest that wedon't have any problems or concerns. We don't like our budgetdeficit. The housing problems relating to sub prime lending is a bigworry. And yes, it could drag us into a recession. We have majordisagreements on what to do about illegal immigration. Oil and gasprices bit into our pocketbook. The costly war in Iraq is on our mindday and night.

However, I believe thebiggest downer dragging us under is the failure of the national newsmedia to rep0l1 to us about the good things that are happening. Theyspend all their time on the bad. If we do fall into a real recessionor experience another terrorist attack, then we'll have something towhine about. But for now -- I say, let the good times roll .

Until next week, I amJohn Block from Washington.