p.s.
It may not be the "fault" of the economy, just like drowning may not be the "fault" of the ocean, but it is a function of the economy.
You seem to be into the idea of defending the President, the economy etc. against blame. However, understanding a thing is one thing, assigning blame is another.
Yes, when it comes to the economy I'll defend the President every time because when considering the economy, there is no need or reason to assign blame. There is however, a need to offer kudos -- unless you're carrying the water for the Democratic Party, the MSM and the AFL-CIO.
However, understanding a thing is one thing, assigning blame is another.
If you ever manage to understand this issue then you'll be qualified to criticize. Of course, once you understand the economy, you'll have no reason for criticizing the economy.