Labor force participation was at its lowest during the Obama administration since the 1950s, which makes it a historic low. I'm glad you agree. It's also been falling steadily, making the unemployment rate misleading.

And it's so "meaningless" that it only depicts a smaller, by percentage, workforce relative to those actually employed. It includes those who have stopped looking for work and those "under employed," working part-time when most would prefer full-time employment. That it was briefly lower in the post-war period serves only to illustrate that the economy understandably was not rip-roaring.

But if those facts don't suit you, believe what you want.