Same goes for Bush. I think that the real estate bubble and associated job growth was fueled in part by excess liquidity from his tax cuts in conjunction with a loose money supply that he did not discourage. It was also dependant on lax regulatory enforcement and the non-regulation of derivatives trading, which he did nothing to address. And the deficits Bush ran up have hamstrung Obama in responding to the recession. Out of that group I would assign less blame for regulatory enforcement and non-regulation because few people were sounding the alarm prior to the real estate bust. But in short, I would say that he contributed to 52 months of jobs growth, but those same contributions contributed to recession that wiped out the jobs growth.