Bush and the Economy

Some have been saying that the president doesn't get enough credit for the strength in the economy. Since we're running unsustainable trade and budget deficits in order to keep the whole thing afloat, I'd say that's debatable. But doesn't the reasoning go the other way as well? If the economy is this strong and Bush still has only 32 percent support, what could happen if we hit the skids? I wonder how low he could go?