I realized the following and put it on another post:
Maybe that's a consequence of our 4-year election plan. Clearly, it wasn't Clinton that got the backlash for his poor legislation in the housing industry - instead, its all Bush's fault. There's no repercussions for Clinton (or Bush, or Obama) to make good, long-term decisions in their term...because THEY won't get credit for it when the policies start bearing fruit. Better make the quick fix to keep people happy while I'm president and let the next guy take the fall for it.
You didn't have that with life-long leaders that cared. They needed economic prosperity LONG TERM to keep life good for them. Short-term was short compared to a life-time of issues later on. I know there are democracies out there that elect only at the death of a leader. At least maybe a longer tenure would be better...things seem to go by decades. 10 years seems enough...and no re-election after =p