Much of the problem with indicators is that those who need simplicity to fool the population have it when we compare (say) GDP with medan household income.  Bush can go up to the mic and say, "GDP growth was 3.9% last quarter.  This economy is strong."  He could even do the same for average income.  It's difficult to fight him by getting into the more complex explanation of median income, and the necessary discussion of why it's a much better indicator of the typical American's financial health.

Now, if income growth is lagging for such a large number of people that the indicators clearly don't mean shit, I'd think we start to see dissatisfaction in polling on the economy.  And, indeed, that's exactly what we've seen in America.  The press hasn't understood it, but anyone who's familiar with the important numbers can tell exactly what the public is so pissed off about:  The typical American's income changes have ranged from falling to only slightly rising over the current business cycle.

Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin