Idiot. He's done nothing but cave to the Republicans since elected, which is NOT what the people voted for (else they'd have elected McCain). This capitulation (The Nation is calling it what it is, despite scrambling to look for a way to say otherwise) means several things:

1) He's abandoned his stated commitment to debt reduction through spending cuts combined with tax hikes, despite overwhelming public support for just that. Think public healthcare option, a primary platform plank he completely abandoned on election just so he could claim to have passed a "healthcare bill".

2) Republicans have once again refused any concessions until Obama granted all of theirs. They have no reason to think they can't continue doing so (Obama's buckled every time) and every reason to think they should (reversing GOP policies that caused the recession could only vindicate him at their expense). He told them he was willing to sacrifice his presidency for his principles and still backed down; he has ZERO leverage with them now.

3) He's a lame duck in every sense of the word. We've already been told the economy won't be much improved by November of 2012, the deficit and thus our debt will continue to grow and Republicans know the "opposition" party President will do whatever they tell him, every time, because he always has.

Here's hoping there's a country left to save in 2016, and a president willing to not only state how to do it, but back it with action.