The Politics of Economics

I was just reading another positive spin on the economy.

http://www.signonsandiego.com/news/business/20080604-1420-economy.html

As a commenter observes: "Good News! Eh? must be Bush's fault lol."

I don't deny that everything negative the doom and gloom pundits write about the economy might come true.  But one reason I am very skeptical is the political nature of economics reporting.  Most on Wall Street are Democrats, and most reporters are Democrats.  This is an election year with an incumbent Republican they want to replace.  They are thus motivated to emphasize the bad news.