The real economic story is inflation and how the MSM is trying to ignore it. Like the GW pseudo-scientists, the MSM thinks it can hide the decline.
If this report from CNN had been fair they would have also shown a sad story of a struggling family who might lose their home because of the inflation caused by unchecked and unbacked government spending. There will be more and more such examples since the money supply is growing too large with no sound economic basis. There will be more and more families unable to both make house payments and pay for groceries and utilities. I see the month by month inflation in food prices that the Bush deficits topped by Obamonomics has inevitibly created.
Or they could have used an illustration of a family who's income is based on the breadwinner working for the government of California. They could have then talked about how many tens of thousands of jobs are going to dry up because there are not going to be enough tax dollars to continue to pay all those workers at unsustainably high levels. They could also mention that not as many state employees are needed since the taxes to pay for those workers have driven businesses out of the state, requiring fewer workers. One could probably find a sad little family to illustrate any point of view or most any narrative. So a responsible journalist might be expected to give more examples or give objective reasons for keeping the story so shallow and narrowly focused. That unless it is just the standard MSM policy that states that if it makes Obama look bad they will not show it. (I think I picked up that line about not making Obi look bad from a Naked Emberor News piece from Pan Keyes that I saw somewhere on the net yesterday.)