Until the recession family incomes were growing up and down the income ladder. Congressional Budget Office data show market incomes for the middle quintile of (non-elderly) households grew by a third between 1979 and 2007.

Other academic economists estimate higher middle class income growthover that period. Market incomes for families in the bottom quintile grew even faster—by more than 50 percent.

Unsurprisingly, most Americans were happy with the state of the economy then. In February 2007, Gallup polled Americans‘ perceptions of the state of the economy. Forty-three percent said “excellent” or “good.” Only 16 percent answered “poor.”

Then the recession hit and the recovery dragged on. Between 2007 and 2011, middle class households’ market incomes dropped by a tenth (the Congressional Budget Office data only goes through 2011). More Americans today tell Gallup they think the economy is in poor shape than in excellent or good condition. It’s hard to blame this newfound dissatisfaction on long-term trends.

The president argued his administration deserves credit for the recovery thus far. If so, he has engineered the weakest recovery of the post-war era.