Obamanomics: We Will "Spend Our Way Out"

I can sum up Obama's speech on the economy easily:

It's all Bush's fault... I'm trying to restore fiscal responsibility... We must continue to "spend our way out of this recession." Oh, and just for good measure, I created 1.6 million jobs so far...

This is the type of illogical incoherence you might expect from a 6 year-old.