Judging from the chatter on the Sunday political commentary shows, the latest, disappointing U.S. job numbers seem to strike a blow to President Obama's re-election chances.

But a lot can happen between now and the November election. The roaring debate between not enough stimulus and not enough cuts reminds me about President Harry S Truman's lament that he wanted to hire a one-armed economist -- one that wouldn't offer advice with these caveats: "On the one hand ... and on the other hand..."

To be sure the jobs report is disappointing, but there are many factors that could affect the economy -- and the election going forward.

As the the president's defenders point out, Obama inherited a very difficult economy and federal budget situation, made worse by excessive spending on wars and simultaneous tax cuts.

So the question: Is it fair to hang the economy's stutter-steps on the president? Let us know in comments below?