If we had a Republican president right now, unemployment would be under 8% yet Democrats would be screaming about how awful it was. As opposed to it being over 8% and Democrats thanking Obama for it. Why would it be under 8%? Because a Republican wouldn't have done Obamacare. A Republican would have meant it when he said that his number one focus was on improving the economy, and wouldn't have spent an entire year stomping all over whatever stimulative actions he, the Fed and the Congress had agreed to take. A Republican would be approving oil leases and not stonewalling on other projects which would help free us from dependence on Middle East oil. Etc. But basically, it wouldn't be what the Republican did. It would be more just him not even being tempted to do job-killing things that Democrats do. So the business climate would be more upbeat. Of course the Democrats would be doing their best to talk down consumer confidence the way they did in 2004 when unemployment was 5.5 and falling. So it would still be trying times.