I'm Worried We Hit 10,000 on the Dow Today

So we hit 10,000 on the Dow today.

Great news.

I'm happy.

But I'm also worried.

And here's why.

We're not doing this because the economy's on fire.

But because so many companies have indicated they no longer will fire.

They're done downsizing.

Now it's up to Washington to confirm their optimism.

And that's why I'm concerned.

Because Washington hasn't adjusted.

Even though companies have.

And Washington hasn't tightened its belt.

Even though companies have.

And because Washington's still digging in, even as most companies are digging out.

It is ironic for me that the private sector has done what the public sector has failed to do: Adjust for the times by cutting expenses, not abusing them.

It says something about our times that stocks are jumping not because earnings are great but because they're not awful.

Think about that.

And remember this.

Defying grim expectations doesn't mean you're creating suddenly grand ones.

We've dodged a bullet.

But that doesn't mean Washington's stopped shooting them. Because any one of their bullets could fatally wound this recovery.

Tax bullets.

Regulation bullets.

Surcharge and graduated health care fee bullets.

Just one of those bullets could injure this momentum. A couple of them, likely kill this whole recovery.

Because this rally isn't Washington's doing.

This is our doing.

This isn't the public sector teaching us a lesson.

This is the private sector providing one.

Frankly I worry about a dollar that doesn't go along for the ride or a wary world that doesn't buy into the ride.

But I'm not here to rain on the parade.

Only to commend those marching in it.

Not those sheltered in white marble buildings watching from the sidelines.

But folks like you and me doing the heavy flag lifting... on the front lines.

I know a bull when I see it.

And listening to Washington take credit for this, I know bull when I hear it.

— Watch Neil Cavuto weekdays at 4 p.m. ET on "Your World with Cavuto" and send your comments to cavuto@foxnews.com