The economy isn't Obama's doing, he inherited a shit storm, now he hasn't improved it a ton but he certainly hasn't worsened it which I would argue is hard to do with the path you guys were on.
Necrosis, the economy isn't W. Bush's doing either. It's Bill Clinton's doing:
25 People to Blame for the Financial CrisisBill Clinton"President Clinton's tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years. Among his biggest strokes of free-wheeling capitalism was
the Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act, a cornerstone of Depression-era regulation. He also signed the Commodity Futures Modernization Act, which exempted credit-default swaps from regulation. In 1995 Clinton loosened housing rules by rewriting the Community Reinvestment Act, which put added pressure on banks to lend in low-income neighborhoods. It is the subject of heated political and scholarly debate whether any of these moves are to blame for our troubles, but they certainly played a role in creating a permissive lending environment."
http://www.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877322,00.htmlGeorge W. Bush"From the start, Bush embraced a governing philosophy of deregulation. That trickled down to federal oversight agencies, which in turn eased off on banks and mortgage brokers.
Bush did push early on for tighter controls over Fannie Mae and Freddie Mac, but he failed to move Congress. After the Enron scandal,
Bush backed and signed the aggressively regulatory Sarbanes-Oxley Act. But SEC head William Donaldson tried to boost regulation of mutual and hedge funds, he was blocked by Bush's advisers at the White House as well as other powerful Republicans and quit. Plus, let's face it, the meltdown happened on Bush's watch."
http://www.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877320,00.htmlImmediately after Bush took office in 2001, there was a recession. Was this Bush's fault? No, it was Clinton's fault. Clinton left Bush a huge mess.
Clinton made it possible for derivative swaps to get out of control. When warned that this would soon destroy the economy, Clinton ignored the warnings. Now Obama is doing the same. Recessions are only going to get worse and more frequent.
