Beyond Etch a Sketch ?

In a demonstration of inverted political genius Mitt Romney has decided to argue that Bush, not Obama, prevented Great Depression II.
Thus he broke rule number one for Republicans which is to never admit that George W Bush is now or ever has been ( unless they have to, and really if you can deny the existence of global warming this Spring, you should have no trouble denying the existence of G.W. Bush).

Also he admitted that the economy could be much worse. Also he praised the much loved TARP and reminded people that Obama didn't sign the main TARP bill. Finally, he stressed the difference between TARP and the ARRA aiming to prevent people from conflating them. It seems that no one explained that exactly that possible misconception is his lottery ticket to the White House (lottery ticket because he might or might not win unless he keeps making it clear that he prefers bailouts for bankers and laying off teachers to tax cuts for the middle class and infrastructure projects).

Is the latest effort a better or worse move than the etch a sketch simile ?