Let it be noted for the record that presidents normally do not take ownership of a weak economy. Jimmy Carter owned the 1980 election-year economy. George H.W. Bush owned the 1992 election-year economy. Both were one-term presidents. Happily for his opponents, Barack Obama has taken ownership of the 2011 economy, a full year and half before he has to face the voters. The Obama self-confidence is famously limitless. Daniel Henninger – Wall Street Journal
The game was up for Obama when he kicked off his 2012 presidential campaign with his now famous debit-reduction speech at Georgetown. Henninger points out the Republican’s were ready to take part-ownership and shoulder the economy with Paul Ryan’s plan for deficit reduction. Instead of coming up with ideas and solutions the president instead chose to ridicule and deride the Republicans seated in the chamber before him. That night the whole world knew it was over.