The GDP is completely irrelevant to the vast majority of people. The difference between perception of economic barometers like this one is that people used to have more faith in capitalism and it has become so painfully clear that this faith is unwarranted. In the past, people in desperate financial situations could easily delude themselves that they were temporarily embarassed while everyone else in the same situation was probably just lazy. Now people are starting to realize the system is causing it and are much less willing to eat the table scraps thrown to them during times of “economic prosperity.”