he didn't break it.
but he doesn't know how to fix it.
truth be told, it may not be 'fixable' anyway.
I feel sorry for the guy, it's a rotten time to be in charge. Basically he's been made captain of a ship which is sinking and burning at the same time. I think all we have really seen from him is just frantic bailing of water to keep the ship from sinking utterly at any moment. I doubt he'll be reelected, and we will likely never actually get to see if he can navigate a ship, you know, when it's not falling apart.
People often seem to forget that what occurs in the economy, foreign policy, and other sectors, are usually the after-effects of things which were set into motion long before the current political puppets were in charge. For example, much of bill clinton's economic successes are related to the "peace dividend" which was garnered by the administrations before his. And now Obama faces exactly the opposite sort of inheritance from the previous administration.
On economics, all you can really critisize obama for is not swooping in like superman and saving the day. And that may be a wildly unrealistic expectation to place upon him. I do feel somewhat let down in some areas which are not related to economics though. for example health care reform, and our continued presence in the war in iraq. I feel as though he has little to no chance of make the economy work, but he could get some 'other' things right, but he seems to be bogged down by compromise and stagnation instead.
Audaces fortuna iuvat