This (especially if you extend it left and right) mostly illustrates that the president is not the economy.
Bush very famously presided over the 2008 financial crisis, but perhaps less famously went out of his way to work with Obama to help him deal with it during the transition: https://presidentialtransition.org/wp-content/uploads/sites/6/2020/11/How-Bush-and-Obama-Collaborated-to-Address-the-Great-Recession.pdf
And you can see Obama acknowledge that in documentaries of the crisis.
Obama got the benefit of the rebound, as did Trump.
And, as much as he tremendously bungled it, there was no way for Trump to stop the national debt from skyrocketing during Covid-19. That's what's supposed to happen in a crisis (and be paid back in better times).
What I'm getting at is that I don't like the idea of anyone calling the economy "Trump's economy" or "Obama's economy." It assigns way too much importance to the president in most cases. And the onus of balancing the budget is more on congress, even if the president is an influence here (and clearly that has all been swept aside for populist policies because voting margins are so thin :/)