The Skeptical Optimist has the answer. Hint: Folks on the left side of the peanut gallery and Jeff rabid Bush haters ... ahem... pessimists probably won't much like what he finds, even though more rational people will. I especially enjoyed his five year "perception summary," which tracks extremely well with conversations I've had with various people around various dinner tables:

• 2001-2: The economy isn't growing.
• 2003-4: ...okay, it's growing, but it's a jobless recovery.
• 2005-6: ...okay, it's growing and creating jobs, but only the rich are benefiting.
• 2006-7: ...okay, it's growing, creating jobs, and wage growth is beating inflation, but we're still beleaguered by the dreaded deficit.
• 2007: ...okay, it's growing, creating jobs, creating higher wages, and the deficit is disappearing, but, uh, we still need to raise taxes because, uh, let's see... yeah, that's right: because there are still too many rich, and because the oil companies are making too much profit.  Yeah, that's the ticket.   

Indeed.