BO inherited an economy in crisis. There were multiple reasons and not one culprit that brought it about. But to quote someone everyone here admires (not): "You never let a serious crisis go to waste". And while we might all have tremendous disdain for the messenger of that quote (Rahm Emanuel), in politics it is absolutely true.
BO used plenty of executive orders and Czars in his regime. However he failed to take meaningful action to use the crisis to put the country and the economy on the right track. Some serious infrastructure spending would have done a lot more good to the economy than bailing out the Auto Unions.