Are we asking the wrong question?

Joe Biden’s quip, “Bin Laden’s dead and GM’s alive,” is not the answer to whether or not you’re better off than you were four years ago. It’s an answer to the right question: Is the country better off than it was four years ago? It’s a true answer to that question but only a partial answer. Before I elaborate, why is asking whether the country is better off the right question?

Voters tend to think with their wallets and bank accounts. Whether he was responsible for it or not, this kind of self...