I agree on the "time lag" and on the defense spending, but my point is that for these idyuts on the tube to get up and say the economy is doing "well" doesn't translate for the average working guy who may be watching, scratching his head and saying, "huh?".
Many state programs and services have been severely rolled back or abandoned because of the lack of federal funding these last several years. As well, state taxes like property/school tax and sales tax, licencing fees and the like have all increased. This puts the burden on the local pols while it makes the Presnit and GOP Congresses look good - that they've "cut taxes for working Merkuns".
Not to mention how ridiculously expensive it is to get health ins. coverage now, even through your employer. Most peeps simply cannot afford real good coverage, and end up stuck with something where they have to spend out quite a lot for "co-pays", prescriptions, etc.
And pensions? Ha! As dead as the nearest do-do bird. Now if you don't sock away 15-18% of your income in an IRA, you might as well forget about "retirement". 6%, 7%, 8%, 10% ain't gonna make it anymore. Of course, corps knew this years ago when they made their move to nix pensions and went to IRA's - to save more of their profit margins for themselves and screw the employees.
The end result is that it doesn't help the bottom line of most people, because we're spending the same amount if not more and getting much less in return than in years previous. Just robbing Peter to pay for Dick n' Bush's war fiascos, AND to fund various corporate welfare schemes.
This is Grover Norquist's "drowning the gov't in the bathtub" notion coming home to roost.