Needed: Some Perspective on Today's Economy

I hate to sound like your dad when you were a kid but people, we need to get some perspective here. And so does the media.

I mean all these doom-and-gloom reports on the economy. Again, when I was a kid, we'd die for this kind of doom and gloom. If a five percent unemployment rate is horrible, does anyone recall 10 percent?

I do, when Jimmy Carter was president. A prime rate at 7.25 percent and we're whining — I can remember when it was at 21 percent.

Mortgages at six percent? I can remember my wife and me doing a jig when we got a first mortgage for 13.5 percent and thought we were geniuses.

Job growth for more than 50 months straight? I can remember losing all those jobs we gained in little more than 18 months straight.

Christmas sales up in a slowdown? I can remember them tumbling in a recession.

Look, things are not perfect but they're far from pathetic.

I'm not trying to be a Pollyanna, but if we're bitching about five percent of Americans not working or five percent of mortgages running late, can you imagine our handling double that unemployment or triple that tardiness?

I knew those times. I lived through those times. And I'm not really that old.

My late mom and dad survived a depression, when things were a lot worse than that.

All I'm saying is if we're having trouble handling these kinds of numbers, how the heck would we handle really bad numbers?

Not well, I suspect.

I guess it's a testament to our times "this" is considered awful.

Pity we forget times when "this" could be considered anything but. — Pretty soon, we'd stop taking our kids to expensive restaurants. But that's just me...

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Neil Cavuto serves as senior vice president, anchor and managing editor for both FOX News Channel (FNC) and FOX Business Network (FBN). He is anchor of FNC's Your World with Cavuto - the number one rated cable news program for the 4 p.m. timeslot - as well as the FNC Saturday show Cavuto on Business. He also hosts Cavuto on FBN weeknights at 8 p.m. In addition to anchoring daily programs and breaking news specials on FNC and FBN, Cavuto oversees business news content for both networks and FNC's weekend business shows, including Bulls & Bears, Forbes on Fox, and Cashin' In. Click here for more on Neil Cavuto.