Public policy needs to take the long view

Surveyed last spring, a record number of rural Nebraskans said they were better off than they were five years ago, and many though they were doing even better 10 years from now.

Their biggest concern was the price of gasoline.

What a difference a few months can make.

The 13th annual Nebraska Rural Poll was taken before the current economic meltdown put a damper on such optimism as well as depressing the price of oil.

"I think if we did this (poll) right now, we could see the bottom drop out," said Randy Cantrell, a professor at the University of Nebraska-Lincoln.

Of about 6,200 randomly selected households in 84 rural counties, 53 percent of the respondents said they felt better off than they were five years ago. That's the most optimistic results the poll has ever received, and 9 percent higher than it was a year previous.

Most of the optimism probably came from high commodity prices, spurred on by the ethanol industry's demand for corn.

The reports didn't mention it, but the State of Nebraska's fiscal condition should also have been a source of optimism, especially compared to other states like California, which may need a federal bailout to avoid bankruptcy.

In light of events that have occurred since the poll was taken, we should be thankful the mood started in such an upbeat position before the bad news struck.

We hope the radical steps taken to rescue our economy are successful, and the recession is a short one.

Whatever the timetable for recovery, however, public policy needs to be put in place for the long run, and not as an over-reaction to temporary economic conditions.