Accurate numbers or political spin?

Fellow Samsphere blogger, Skip, of Granite Grok, has an intriguing post about the economy. He takes a look at the status of the economy in 1996, when many were claiming things were good, and compares it to today, when many are claiming we're in a recession.

He references this article:

Democrats on the Economy in 1996:
“Our economy is the healthiest it has been in three decades.” (President Bill Clinton, State of the Union Address, January 23, 1996)

Democrats on the Economy in 2008:
“The bottom line is that this administration is the owner of the worst jobs record since Herbert Hoover." (Senator Charles Schumer, Press Release, March 7, 2008)

The numbers in March 1996 were slightly worse than today. But in 1996, these figures were being hailed as good. Granted, the housing market is in a much-needed correction and the credit crunch has some people concerned. But when it comes to the labor market, I think I'd take today's numbers over those from 1996.

So is it the economy? Or is it the politics?