Check the unemployment rate if you need some clarification. The meltdown was brutal. There hasn't been a recovery because it is a very difficult time to take risks in the small business sector, and that is the group that starts recoveries.
We agree on this. Where we disagree is on why it is a difficult time to take risks in the small business sector (or any other sector). It seems obvious to me that the reason is that consumers aren't spending, because a) too many of them are unemployed or fear they will become so, and b) consumer credit has tightened.
In any case, as I said the meltdown occurred under Bush, so how can Obama's policies be at fault? (I don't even believe Bush's can be blamed in full, as I think the problems were established decades ago, but certainly it's absurd to blame them on a president who hadn't even taken office yet.)