The reason that the economy sucked back in 2008 was because of a major financial meltdown. Even so, the recovery has been one of the worst in US history, and there are very compelling arguments to lay the blame at Obama's feet (why did he want card check, cap and trade, and ObamaCare, as well as Dodd-Frank and tons of other regulations, if he wanted to encourage job growth? He's pulling in two directions at once).

Obama's luck is that, with his numbers, almost anyone else would be packing his things and hoping for a miracle to keep him in the Oval Office. However, the Republicans didn't field any "A-list" candidates this year because conventional wisdom is that you can't defeat an incumbent so you save your good candidates for "open" years (e.g., John Kerry ran in 2004, Bob Dole ran in 1996, and unknown Bill Clinton ran in 1992, and we forget he probably would have lost had it not been for H. Ross Perot, who siphoned away a good 18% of the vote that was more Republican than Democrat).

Even so, with the numbers where they are and with so many amateurish moves from this White House, even knowing that Obama doesn't have what it takes to find compromises with Republicans, the B-List candidate could have (and should have) won. However, that is increasingly in doubt, as Romney has run one of the worst campaigns in modern memory.

Obama is just damn lucky if he gets a second term.