The economy is in rough shape, voters know it firsthand, and they won’t be convinced otherwise.
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n an excellent piece in today’s New York Times, David Leonhardt observes that “in recent weeks, economists and pundits have been asking why Americans feel grouchy about the economy when many indicators — like G.D.P. growth, stock prices and the unemployment rate — look strong,” before concluding that the “supposed paradox” to which they are pointing is “not really a paradox.” “Americans think the economy is in rough shape,” Leonhardt writes bluntly, “because the economy is in rough shape.”
Leonhardt is correct, and his explanations are solid. But he is remiss in one area: He doesn’t explain why “economists and pundits have been asking why Americans feel grouchy about …
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