Krugman's NYT: Why American's Aren't Thrilled with "Bush Boom:

[kpete]

December 5, 2005
Op-Ed Columnist
The Joyless Economy
By PAUL KRUGMAN
Falling gasoline prices have led to some improvement in consumer confidence over the past few weeks. But the public remains deeply unhappy about the state of the economy. According to the latest Gallup poll, 63 percent of Americans rate the economy as only fair or poor, and by 58 to 36 percent people say economic conditions are getting worse, not better.

Yet by some measures, the economy is doing reasonably well. In particular, gross domestic product is rising at a pretty fast clip. So why aren't people pleased with the economy's performance?

Like everything these days, this is a political as well as factual question. The Bush administration seems genuinely puzzled that it isn't getting more credit for what it thinks is a booming economy. So let me be helpful here and explain what's going on.

We're back now to a period where opportunities are fairly limited, like they were in the late Bush I/early Clinton years. More than that, we're in a period where it's becoming conventional wisdom that "perks" like medical insurance and retirement benefits are unreasonable demands (unless you're Marc Cooper of course) and declining standard of living for many is once again perceived to be inevitable. Not only that, but those "perks" which at least provided security, if not riches, such as quality health insurance are falling out of favor.
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http://select.nytimes.com/2005/12/05/opinion/05krugman.html?hp=&pagewanted=print