The economy is tanking. The revised estimate for second quarter growth was an anemic 1.6% down from a number liberals and Obama was bragging about all during this "recovery summer:" 2.4%.

Compare that to the almost as anemic 3.7% growth experienced in Q1 and you have the spectacle of by far the worst growth rate coming out of a recession since the end of World War II.

Mort Zuckerman:

What was thought to be normal in the context of post-World War II recoveries? One assumption is that four quarters into the recovery, real gross domestic product would expand at an annual rate of over 6 percent. Instead we are coming out of the current recession at a growth rate of 2.4 percent. In other words, more than two years after the beginning of every post-war recession, we would now usually be at a new peak of economic activity. In this recession, economic activity in real terms is still 1 percent below the pre-recession peak.

We did enjoy a GDP boost from a buildup of inventories anticipating a recovery at normal speed, but it didn't happen. Economist David Rosenberg regards it as "frightening" that, whereas the "normal" rate of increase in final sales is 4 percent annually, this time sales have averaged only 1.2 percent, the weakest revival in recorded history. In short, we can't expect the GDP to grow much more from stockpiling.

Incredible. Trillions of dollars thrown away in hopes of restarting the economy using government funds. Mortgaging the future in a futile attempt to change the laws of nature through massive spending schemes that have obviously, and painfully made the situation worse.

This is Obama's economy now. Bush is a distant memory and whatever culpability he and the GOP were responsible for has slipped into history. It is the president's policies and the policies of his party that have utterly, completely, and undeniably failed in spectacular fashion and are now totally responsible for the mess we're in.

The Democrats can run all the Bush ads they want; some people who aren't aware will no doubt believe them when they tell us that Obama is only cleaning up Bush's "mess." One might legitimately ask, "When is he going to start cleaning his own mess?"