The last three years, however, have shown a market brought to a standstill, or even into real decline.
"If you look statistically at presidents that have gone into real decline, I'd say more often than not they haven't pulled it out," he said.
People did register a real decline in their circumstances, though.
But that was due more to overpricing, he said, than to real decline.
It needs the perception of decline, real or imagined, to be reversed.
With another voice, he proclaimed his commitment to schools, cities, the environment, a war on drugs and a real decline in the Federal deficit.
The real decline of this country is a near universal apathy.
Hospital groups say the real decline may be even greater.
"There has been a real decline in the communications from the leadership," one American official said.
"Our conclusion was that there has been a real decline in public trust and we need to take steps to reclaim it."