As hard as it is to believe, there are still ivory-tower economists, Wall Street "strategists," Washington politicians and TV pundits running around claiming that the U.S. is not in recession (and a few are even arguing that conditions are not softening all that much), with many placing great emphasis on the bogus economic data being excreted -- er, generated -- by the current administration.

In some ways, these delusionists remind me of the arrogant rocket scientists who dismissed the collective wisdom and experience of those who had been around Wall Street for a while and blithely constructed dangerous houses of cards built on false assumptions and dubious logic. They insisted that their data and "models" were all they would need to keep making money and managing the extraordinary risks they were taking. Of course, they turned out to be spectacularly wrong.

Regardless, those who believe that the economy is not heading down the slippery slope towards a seriously hard landing should really look past all the "data" that is telling them that and have a good look around. They'll soon discover myriad stories like the following, "Hard Times Hitting Students and Schools," by Sam Dillon of the New York Times, that clearly indicate otherwise.

LOUISVILLE, Ky. — With mortgage foreclosures throwing hundreds of families out of their homes here each month, dismayed school officials say they are feeling the upheaval: record numbers of students turning up for classes this fall are homeless or poor enough to qualify for free meals.

“We’re seeing a lot more children in poverty,” said Lauren Roberts, spokeswoman for the Jefferson County school system, a 98,000-student district that includes Louisville and its suburbs.

At the same time, the district is struggling with its own financial problems. Responding to a cut of $43 million by the state in education spending and to higher energy and other costs, school officials in Jefferson County have raised lunch prices, eliminated 17 buses by reorganizing routes, ordered drivers to turn off vehicles rather than letting them idle and increased property taxes.

The Jefferson County system is typical this school year.

As 50 million children return to classes across the nation, crippling increases in the price of fuel and food, coupled with the economic downturn, have left schools from California to Florida to Maine cutting costs. Some are trimming bus service, others are restricting travel, and a few are shortening the school week. And as many districts are forced to cut back, the number of poor and homeless students is rising.

“The big national picture is that food and fuel costs are going up and school revenues are not,” said Anne L. Bryant, executive director of the National School Boards Association. “We’re in a recession, and it’s having a dramatic impact on schools.”

Louisville’s pain is minor compared with the woes of some cities.