On Friday, the U.S. Department of Commerce reported that the economy grew at a sluggish annual 2 percent pace during the third quarter. Not surprisingly, with the election just over a week and a half away, the Obama White House scrambled to spin the news as positive. “While we have more work to do, together with other economic indicators, this report provides further evidence that the economy is moving in the right direction,” said Alan B. Krueger, chairman of the Council of Economic Advisors. But whether we measure the third-quarter growth against historical precedent or his administration’s earlier projections, the Obama economy stacks up poorly.