In it, but not of it. TPM DC
In recent weeks, Sen. Jon Kyl (R-AZ) and David Dreier (R-CA) have separately claimed credit for different economic metrics. Kyl claimed that the GOP's November victory and the resulting tax cut compromise caused 2010's annual corporate profits to skyrocket. Dreier claimed that recent jobs numbers wouldn't be as promising as they have been if the GOP hadn't swept back into power.
As I noted previously, it's a theory of economic growth that requires assuming the existence of a time machine. But Republicans know much better than Democrats that credit isn't given -- it's claimed. And after a while, this version of events could take hold.