To listen to George W. Bush in Iowa yesterday, the state, like the rest of the nation on his watch, has "turned a corner." Of course, the question is, turned a corner to arrive where, from where? Bush told his crowd in Davenport, Iowa that "Because we acted, Iowa's unemployment rate now is 4.3 percent." This line received whoops and hollers from approving Iowans who clearly weren't aware of the context of the unemployment figure. And Mr Bush surely wasn't going to enlighten them.
So, what was Iowa's unemployment rate four years ago? It was 2.4 percent. Iowa's unemployment rate is below the national average. But still. Iowa isn't better off than it was four years ago on this measure. I'm sure you won't be surprised to learn that Mr Bush neglected to mention that little fact.