For all the posturing and hand-wringing about the economy, the President doesn't do a whole lot to affect it (at least in the short term) - Clinton didn't make the tech boom, and Bush didn't make the housing crisis.
History will remember this election as determining whether our country's next 25 years will be a story of a progressive, secular and liberal leader of the developed nations, or a regressive, reactive knuckle dragger falling further behind Europe and Canada in terms of equality, civil rights, income disparity, reproductive rights, access to higher education and health care. (In large part, but not solely, via the lasting impact on the balance of the Supreme Court.)
As others have pointed out, there's two ways to justify a GOP vote in 2012: admit that you prioritize your take-home income over all of those greater social issues (and the happiness, rights and prosperity of your friends and family members), or that you'd like us to wind back the last 50 years of social progress. I'm not sure there's a third option.
You don't get to vote for just a candidate's economic policy. You're voting (and supporting) the rest of their agenda as well. And the GOP social agenda is undeniably regressive. Don't vote for policies that you couldn't look your friend in the eye and defend.