[BushCountry]

Perceptions are funny.

[LibertyAndJusticeForAll]

Reality isn't so funny.

"Economists do expect a strong pickup in the second half of the year, in part due to the tax cut. But so far, "it's a hope and an expectation -- not a reality," said Sung Won Sohn, chief economist at Wells Fargo."

The old economic formulas are not working because they do not factor in billions of unemployed people in the world, now available for employment. The tax cuts will no doubt generate new jobs, just not in America.