The recession is bad and barely getting better. Desperate to change the subject, Obama is making a big deal about last year’s killing of OBL as if he were Washington leading the troops to put down the Whiskey Rebellion. He’s also resorting to the if-you-don’t-like-me-you’re-racist trope.
Yes things arguably have stabilized and slightly improved, but the percentage of working people is way down and the growth of jobs is unsteady and slow. I believe living in DC this is not as visible to him as it is in places like California and Florida. He is truly in a bubble and has seemed indifferent to the economy from day one, instead peddling the old Euro-style welfare state plans even as Europe itself is imploding on account of its unsustainable finances.