So who take responsibility for the lousy economy? The answer is the President. That's the way it's supposed to work, regardless of how much leverage the President has. It's part of his job to take responsibility.
President Obama has never understood this and for a long time it seemed like he would be the real "Teflon President". That seems to be about to end. From a Poll by The Hill:
Two-thirds of likely voters say the weak economy is Washington's fault, and more blame President Obama than anybody else, according to a new poll for The Hill.
It found that 66 percent believe paltry job growth and slow economic recovery is the result of bad policy. Thirty-four percent say Obama is the most to blame, followed by 23 percent who say Congress is the culprit. Twenty percent point the finger at Wall Street, and 18 percent cite former President George W. Bush…
The poll, conducted for The Hill by Pulse Opinion Research, found 53 percent of voters say Obama has taken the wrong actions and has slowed the economy down. Forty-two percent said he has taken the right actions to revive the economy, while six percent said they were not sure.
The Administration's position has been that it was all Bush's fault and things would be even worse without Obama's policies. It appears that there may be a statute of limitations on both arguments.
Meanwhile it may be that the Obama Administration Campaign has been doing Romney more good than harm with its attack on his Bain record. From USAToday:
By more than 2-1, 63%-29%, those surveyed say Romney's background in business, including his tenure at the private equity firm Bain Capital, would cause him to make good decisions, not bad ones, in dealing with the nation's economic problems over the next four years…
Republicans and Republican-leaning independents are much more enthusiastic about the election, an important factor in persuading supporters to vote. By 18 points, 51%-33%, they report being more enthusiastic than usual about voting. In contrast, Democrats and Democratic-leaning independents by 4 points say they are less enthusiastic than usual, 43%-39%.
A record number of Americans express skepticism about the activist role of government Obama espouses; 61% say the government is trying to do too many things that should be left to individuals and businesses. That's the highest number since Gallup began asking the question in 1992.
It might have occurred to some voters that, even if Romney was bad for some of the employees of companies that Bain invested in (a dubious claim), he was at least good for Bain which was his chief responsibility as a corporate officer. We can't judge what kind of executive Obama might have been in other contexts. Up to four years ago he had never been in charge of anything other than a campaign.