I have no idea what standard people are using to declare Obama’s first term a failure. To save us from a Great Depression, rescue the auto industry, re-regulate Wall Street, decimate al Qaeda, kill bin Laden and Qaddafi and provide universal healthcare? That’s failure?

Unemployment is lower now than it was when he took office, and moving downward. Next year’s IMF-predicted US growth is higher than any other developed country. Compared with austerity-ridden Europe, where unemployment is still climbing, Obama’s, Geithner’s and Bernanke’s leadership has been stellar. The US has never exported as much as now as a percentage of GDP ever. Given the catastrophe Obama walked into, and the froth-flecked obstructionism of his opposition, he’s had a remarkably successful, historic first term.