Explain Again, Please

This link graphically represents a Google News search for the phrase "economy worst since great depression." Notice the drastic upward slope in, gee, August, September and October of 2008? Interesting.

The Obama administration has said, over and over and over again that it inherited the worst fiscal mess/economy since the Great Depression. Just Monday Budget Director Peter Orszag asked to give the stimulus package, a political and policy cornerstone of the Obama administration's approach, time to work.

The economy's a train wreck...the administration is on the case...the electorate should give the medicine some room to take effect. Fair enough. But if things are horrible, and the solution isn't working yet, how to unravel this nakedly political and self-serving statement from President Obama (emphasis mine)?
"I don't think things are ever as good as they say, or ever as bad as they say," Obama added. "Things two years ago were not as good as we thought because there were a lot of underlying weaknesses in the economy. They're not as bad as we think they are now."
Things were terrible, my fix hasn't kicked in yet and now, magically, they're not as bad as we think they are.

Who's having the mental recession now?

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