He's talking about themes he used in his recent Rolling Stone article, In Defense of Obama 10/08/2014.
I read his comments in the article and in the interview as a plea to voters and maybe especially to his fellow members of the punditocracy to be realistic about Obama's actual accomplishments.
He's not making an "Obamabot" argument. His evaluation of Obama's economic policy overall comes down to: at least he's not as bad as Angela Merkel.
That's almost the definition of damning with faint praise!
Leslie Gelb's Obama’s Last Chance to Save His Presidency The National Interest 10/22/2014 probably counts as an example of the kind of commentary Krugman is addressing.
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