Here’s an interesting way of looking at the current economic climate: the BAN Prosperity Index.
The BAN Prosperity Index is a weighted aggregation of six economic indicators that directly affect poor and middle class Americans. Included in the aggregation are measures of well being such as real discretionary income growth, inflation, and interest rates. Also included are measures of the economic security of poor and middle class Americans such as the unemployment rate, length of unemployment, and frequency of non-business bankruptcies.
According to this measure, things were better in Q4 2003 but still not good for most people. Check it out, it’s good stuff.