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Sure, a president himself can't be responsible for 100% of economic progress or failure..
A president is responsible for anything that happens on his watch.

100%

Might or might not be his fault but most likely his policies had a lot to do with it.

When you get yourself elected to be the leader of the free world you take on a lot of responsibilities, at least up until now. Now it's not the poor dear man's fault, no one could have possibly predicted this...and no one could have reacted better!

Good coffee, good weed, and time on my hands...