On another level with regards to the "economy" and politics, the way I understand it (admittedly via one college economics course) is that the president's effect on the economy is essentially minimal compared to a variety of other factors, and moreover it's a delayed effect whereby any "economic" policy impact isn't seen for a months or even years.

i.e. Neither Bush nor Clinton deserve credit for the economy under their watch.
Bush Sr didn't deserve blame for the economy under his watch.
The economy is cyclical, and I don't think anything can really change the fundamental nature of that cycle.

What precisely has Bush or the Republicans done that they deserve credit for on the economy?
Or are they just in the right place at the right time...