Or, at least we are according to Phil Graham.
Now, I don't know too much about Senator Graham, so I am going to have to guess a bit. I'm guessing that, since he's the economic adviser to John McCain, he's REALLY keen on the market, and really keen on trying to show the recent economic performance as pretty strong (since a Republican is in office after implementing sizable tax cuts, which is the bedrock of the McCain energy campaign).
So, much like the extremists on Iraq or global warming or anything else, he HAS to argue that his policies work...pretty much no matter what. Never mind that all market economies have recessions: failure is unacceptable.
So, what does an extremist do when almost everyone disagrees with him? In revolutionary France, he would behead everyone. In America, he calls us whiners instead.