The tide will turn against Obama in September

Third, America is not doing a good job of managing its own responsibility — being a force for responsible government and a source of economic growth.

In fact, the impending fiscal cliff is clearly a potential accelerant for a meltdown.

After all, once reality sets in that there is going to be no improvement in leadership , whether on the fiscal cliff or on long-term deficits and debt, people and markets will react.

They will not wait until January.

Historically, September has been a good time for such a reaction.