Two facts:

--Perception and emotion have a lot to do with economics in this country. Look at how the stock market rises and falls with every whim of the headlines. You don't think headlines about the housing market affect the perceptions of those buying and selling?

--Most of those working in the media would give a kidney to see a Democratic president in 2008.

That pretty much tells the story.

Then what Tom? If the economy tanks, you're going to blame the Democrats??

Aside from perception issues, most of the real forces driving the economy have little to do with politics, or who's in office at the time. That's the reality.

But if we're throwing blame around...

If things were reversed, and the Republicans had taken over Congress in January after 12 years of Democratic control, and then the economy tanked, I find it hard to believe that you and the media wouldn't solidly blame the Republican Congress for it. ;)

Kind of the way tax cuts never have anything to do with shrinking deficits, but everything to do with growing ones.