THIS DOES SEEM LIKE A CONCISE SUMMARY OF THE ADMINISTRATION’S POSITION: Obama inherited everything from George Bush (except the intelligence network that tracked down Bin Laden).

UPDATE: Prof. Stephen Clark predicts the future narrative:

Should Romney win in November, any improvement in the economy will be due to the foundations laid during Obama’s term – tragically cut short – and insufficient time to realize his genius because Bush’s mess was so very large. But he was a terrible politico-administrator you say? Well, in an effort to expiate their collective guilt Americans thrust him into a position that he wasn’t prepared to occupy at that time – if only they had been more patient. Those who want to believe will go on believing.

Should Romney win in November, an ex-President Obama will make Jimmy Carter seem positively decorous in comparison. However, for Republicans, this might just be a gift that keeps on giving.

Sounds about right.