NRO: Charles Krauthammer: Obama’s Second Act

If he wins another term, he’ll only get worse…

“In the political marketplace, there’s now a run on Obama shares. The Left is disappointed with the president. Independents are abandoning him in droves. And the Right is already dancing on his political grave, salivating about November, when, his own press secretary admitted Sunday, Democrats might lose the House.

I have a warning for Republicans: Don’t underestimate Barack Obama…

…Obama is down, but it’s very early in the play. Like Reagan, he came here to do things. And he’s done much in his first 500 days. What he has left to do, he knows, must await his next 500 days — those that comeafter reelection.

So 2012 is the real prize. Obama sees far, farther than even his own partisans. Republicans underestimate him at their peril.”