'Happiness Index' shows traditional values can pay off

Nebraskans aren't known for their overblown exuberance, but once one knows how the state was judged the "Happiest Place in the Nation," it isn't hard to understand why.

As announced Monday on ABC's Good Morning America, Mainstreet.com named Nebraska No. 1 in its first-ever "Happiness Index."

No, there isn't warm weather year-around, and downhill skiing is only so-so, but when it comes to the current economic storm, we're doing all right.

The Happiness Index looks at household income, debt, employment and foreclosures.

Nebraska ranked second overall in the lowest number of foreclosures and in lowest unemployment rates, and fifth in the lowest percentage of non-mortgage debt by income.

Yes, we're somewhat insulated from the rest of the nation when it comes to recessions, but things are likely to get worse here before they get better.

And, while Mainstreet.com admits that money alone can't buy happiness, having a job, home and enough money to cover basic needs is a good start.

No, most Nebraskans don't draw big salaries like they might if they lived in larger population centers.

But many of us have inherited the characteristics of hard work and thrift that served our ancestors so well.

Thankfully, that extends to most of our bankers, who knew making risky housing loans, on the expectation that prices would continue to go up indefinitely, was irresponsible and foolish, even under the uncertain umbrella of a possible taxpayer bailout.

Fiscally conservative Nebraskans should take some solace in national recognition that our traditional values can ultimately pay off.