I do worry that this sort of idea, that Obama has failed in fixing a floundering economy was at least 10 to 12 years in the making after only four months, will take hold.
And it probably will. For one thing, it is easier to have this one man to blame than to try to sort out the sordid details of what really brought this to our door. There have been countless Planet Money podcasts and at least two whole This American Life broadcasts dedicated to figuring out what went wrong when, and who is to blame for it all. I haven't listened to Josh and Chuck's (the guys from the Stuff You Should Know podcast) Super Stuffed Guide to the Economy, but I'm guessing that aside from being awesome they offer the same type of complex and villainless piece. They really haven't discovered the golden nugget of truth that would place the blame directly at anyone's feet, which is good. But without a concrete, mustache-having, black-cape-wearing, malicious villain, it's easier to point to the guy at the top - the guy who wasn't at the top through those past ten or so years (not that I think he would have done anything differently, just that he didn't have the opportunity to even do the same thing) - and say, "It's him!"
It might work. But right now, with the Right floundering and attacking pretty much everyone without cause or even a fully formed strategy, I'm holding out hope that it backfires terribly. Especially with Cheney skulking around claiming that Bush left the GM mess to the next guy.