"Since people tend to look back at previous generations and point to the prices being much cheaper, let's be accurate."
So I agree with you, consoles and games are much cheaper now. In fact, I think inflation is much greater than your figures suggest, so I agree with the idea even more strongly.
So life is good as a gamer right now. But If you happen to be the unfortunate kind of human being who has to eat food, or fill up a gas tank, it's clear the US economy is sucking hind teat. The people of USA have been getting more impoverished for decades now. (It started with Nixon's gold default, which permitted unrestrained money creation and government waste.)