“Remember, folks, that George W. Bush opened these floodgates....”
Obama has been in office for nearly 4 years. Period.
I'm no fan of GWB's second term but we must remember that the economy downturn began after the democrats won both houses in 2006. I know they were calling Bush's 4.7% unemployment rate "the worst economy since the Great Depression" and they continued that mantra daily for years. But it wasn't until Pelosi and Reid had won in November that any significant downturn really started.
If anybody opened the floodgates to us having Obama it was John McCain as our nominee.