The Media's Top 10 Economic Myths of 2006

Compiled by the Business & Media Institute. The complete report is available here.

10. American manufacturing is obsolete.
Media myth: All the manufacturing jobs have been shipped overseas, and the only ones left are in the almost empty plants of the Big Three automakers.

9. The American dream has become a nightmare.
Media myth: It’s no use trying, because you’ll never achieve the American dream.

8. You can’t be trusted with a fork and spoon.
Media myth: From your morning doughnut to your afternoon potato chips and your evening burger, the government should stop you from killing yourself.

7. Wages are stagnant.
Media myth: Workers are getting left behind in economic growth.

6. Global warming doom grows ever nearer.
Media myth: We have passed the “tipping point” on global warming. The U.S. had better pay up — and we don’t have much time.

5. Increasing the minimum wage will help the millions of poor workers.
Media myth: U.S. workers are barely getting by, and it’s past time for a minimum wage increase after all these years.

4. The housing bubble has burst.
Media myth: A U.S. housing slowdown means the market is crashing down and the rest of the economy isn’t far behind.

3. Bird flu is going to kill us all.
Media myth: Stockpile your drugs (and everything else) now, because bird flu is coming and it’s going to get ugly.

2. Gasoline is a conspiracy — going up or coming down!
Media myth: Big Oil is conspiring to spike gas prices and stick it to the consumer. Wait! No! Big Oil is conspiring with Republicans to bring gas prices DOWN before the election!

1. The U.S. economy is hopeless — again.
Media Myth: The average American knows that the economy is bad and not getting better.