Bush Poll Numbers

The Washington Post and the MSM in general are gloating these days with their constant releases of low Bush approval ratings. I say they're gloating because it appears Bush has finally taken a hit from their constant barage of negativity on every issue from Iraq to the economy. But is the public really so displeased with Bush? Let's take the recent good economic news, as posted by Powerline:

Unemployment down to 4.7%.
211,000 new payroll jobs added in March.
Economic growth has now continued for 17 consecutive quarters.
Consumer confidence is at its highest level in 4 1/2 years.
Since January 2001, real after-tax income per person has risen 8.3 percent.
Construction spending is at a record high.

Based on this, how can the public disapprove so much of Bush's handling of the economy? Or as John Hinderaker at Powerline poses it:

One thing puzzles me: how can consumer confidence be soaring, while at the same time 59% said in a recent poll that they disapprove of President Bush's "handling of the economy?"

Hmm...Good question. You don't suppose the same dynamic is at work with the Iraq issue as well do you? Is it possible that things are going really well over there and the public just thinks things are going terrible? I wonder how that could be possible, though...

Maybe the MSM has reason to gloat.