I missed this yesterday:

Shipping jobs to low-cost countries is the "latest manifestation of the gains from trade that economists have talked about" for centuries, said N. Gregory Mankiw, chairman of the White House Council of Economic Advisers. Just as U.S. consumers have enjoyed lower prices from foreign manufacturers, so too should they benefit from services being offered by overseas companies that have lower labor costs, he said...

"I know there will be jobs in the future," Mankiw told reporters at a news conference, "because I know this is a vibrant economy, a dynamic economy."

Those comments echoed a speech by Federal Reserve Chairman Alan Greenspan last month. Greenspan counseled that workers hurt by outsourcing "can be confident that new jobs will displace old ones as they always have."

They're right, but for most people, losing their job is pretty stressful. Sure enough, today:

Democrats from Capitol Hill to the presidential campaign trail lit into President Bush's chief economist yesterday for his laudatory statements on the movement of U.S. jobs abroad, seizing on the comments to paint Bush as out of touch with struggling workers.