GREGG EASTERBROOK:

Democratic attacks on Mr. McCain and Republican attacks on Mr. Obama both seek to punish impermissibly positive thoughts. At a time when there exists a sense of crisis over the economy, fuel prices and many other issues, this reinforces the odd, two realities of life in the United States today: The way we are, and the way we think we are. The way we are could use some work, but overall, is pretty good. The way we think we are is terrible, horrible, awful. Possibly worse.

Read the whole thing, which offers some useful perspective.

UPDATE: Fabius Maximus continues to stoutly maintain that media pessimism about the economy is a myth.