Its hard for Bush. When you honestly point out all of the things beyond his control that have hurt the economy, then he risks being made into mr. excuses by the Dems. Also, people just don't want to hear that the economy follows cycles of growth and decline, and that we are in the beginning of a long growth period, helped in part by his tax-cuts, and that no President has the magical powers to snap his fingers and make the economy even stronger.
Its also hard because you know that the majority of those talking heads want to pronounce the Dem the winner of any debate, but its just damn puzzling how Bush could have had such similar non-verbal responses to Kerry in the first debate that Gore had to him in their first debate; responses that made Gore look so bad. How could he make the very mistake that had helped him before? A sizeable lead nationally, and momentum in all the key battleground states are gone as a result.
In my mind I'm already trying to find the possible silver-lining: If Kerry wins, then we won't have Hillary in 2008.
I'm afraid now that if Bush loses he'll hurt GOP Senate Candidates in states like NC, Colorado, South Dakota, Louisiana, etc.