As I discussed last year, whoever wins the election is basically screwed. There is no way in theory or practice anyone can fix the economy in one term. They can at most decelerate or accelerate.
In economic terms, I personally saw that both candidates were going to accelerate the problem, albeit to varying speeds, but ultimately the same destination. In other words, the outcome would have been more or less the same with McCain or Obama. Obama has (as Matt puts it) inherited a poisoned chalice.
It is immaterial right now whether the American public thinks he is screwing up. I mean the public approved of Geithner, and he is full of fail and tax fraud. Give or take near the end of the term, and the economy does not pickup pace, it will be a different story. I can assure you, there has been zero to no improvement if you wade through the cooked number. Consumer confidence means nothing if the fundamentals are wrong to begin with.
The only solace for Obama fanboys is no electable Democrat or Republican would have been able to resolve it either. That make some of you feel better?