When it comes to the economy, the President is like the quarterback of a football team: He gets too much credit when things go well, too much blame when things go badly (you may notice the Buffalo Bills, who have an offensive line that is a complete joke, have decided to change starting QB's next week!). Every President in the 20th century who did not get re-elected had a recession to blame for it.....or, got blamed for a recession (or, in Hoover's case, depression).
Republicans are now putting the blame for our current stagnant economy on Obama, who entered office 15 months into the worst recession since WWII. Obama wants to blame Bush, of course. Bill Clinton and Ronald Reagan proudly took credit for strong economic growth that occurred during their time in office, ignoring the incredible technological advances that had much more to do with it.
The fact is, there is no magic joy stick in the Oval Office that the Prez. uses to drive the economy. There is really very little he can do in the short term. In fact, he needs the help of Congress to do as little as Obama was able to do, which was the stimulus, which, by the way, did not fail. Had we listened to the GOP, things would be much worse, which is what they wanted so that they could blame Obama for an even worse economy.
Always remember, politicians care first and foremost about getting and keeping power, and helping the people who put them there once they get it. The Tea Party's anger at insiders is deserved. It is too bad they have taken the road of promoting ignorance over reason and good policy, and will make things even worse if they get their knuckleheads elected. The GOP is glad to use their ignorant rage to get back in power, where we can expect more of the same crap we got in the first 6 years of the 21st Century. That will fix everything!
I was motivated to write about this by THIS STORY from the Economix blog of the NY times, discussing how economic events that politicians have no control over effect elections. Remember, if you are unemployed, or you don't have as much money as you want, it is always the fault of someone else!!