I find it incredibly stupid that most of the political debate in this country is focused on something that the President has real little direct control over, which is the economy.
This isn't to say government doesn't affect the economy, because it certainly has and can. In a communist or authoritarian society, the government *is* the economy, so it is of course possible. Even in a moderate free market economy, the government still has regulations on business, trade policy and fiscal policy that all affect the economy.
The government controls trillions of dollars, sets taxes, sets trade policies such as tarrifs and treaties and generally sets things like environmental standards and minimum wage. So it does have an impact on the economy.
But the differences in Republican and Democratic approaches to the economy is startlingly little. True, some liberal Democrats want way more regulations on business. Some Republicans favor complete or even more de-regulation and changing of the tax code. But the differences are far less than the similarities on the economy, and both parties might as well be in the back pocket of big business.
Personally, the President doesn't do much to control the economy. He can help set trade policy, fiscal policy and propose legislation to regulate/de-regulate the market. But most of the final say really rests with Congress.
Luckily or unluckily, the genius of the founding fathers of this country again shows through. The parties are constantly at war with each other over superficial differences, so much so that they barely get any legislation through. As a libertarian-minded person, I do not mind divided government. The political and economic polarization it creates, however, cannot be ignored. I suppose that is the the trade-off for a divided government, a divided populace.
At any rate, this psychobabble about the "Clinton economy" or "Bush economy" or "Clinton recession" or "Bush recession" or "Clinton boom" or the newest the "Bush job boom" needs to stop. Presidents don't create jobs, and ultimately Congress can only indirectly help. Business creates jobs, and it does so when the economy naturally recovers or declines.
I think more government intervention in the form of drastic changes tends to de-stabilize the economy and create more economic polarization and no intervention at all leads to corporations becoming incredibly corrupt and greedy. Tweaking is needed, and that is the beauty of a moderate free-market economy.
If the President controlled the economy, if it were even actually possible, I am guessing that it would always be good so it would politically benefit the incumbent.