Well, he at least gets extra credit for being honest. With hopes of an economic recovery fading, Obama is facing a very real threat to his reelection hopes. He had obviously assumed that economic data would be improving by now and has yet to find a way to address his economic stewardship. At the end of his first year, he was fairly confident about it:

US President Barack Obama, in remarks aired late Sunday, awarded himself a B plus for his first 11 months in office, stressing in an interview with talk show queen Oprah Winfrey that there was still much to be done. ‘A good solid B plus,’ Obama said during an hour-long, intimate soft-focus ABC network Christmas at the White House special, when Winfrey asked what grade he would give himself.”

Today, however, on The View, he was much more sanguine:

HASSELBECK: Mr. President, I believe it was with Matt Lauer in 2009, you sat down, you were talking about the economy and you said in three years I'll be held accountable. If I don't have this done, quote, in three years, then  there's going to be a one-term proposition. Admittedly so in our first segment, you said that Americans are still feeling the hurt of the economy. So how do you grade yourself, honestly, in terms of how you've done in terms of economics?  

OBAMA: You know, I won't give us a letter grade. I think it's still incomplete.”

Yes it is, Mr. President. Very incomplete. Fortunately, you won't have to worry about it come November.