After eight disastrous years of Bush, it appears the Obama presidency is sliding into oblivion as well. His approval rating has been sinking for months and just hit over 50% disapproval on Gallup tracking for the first time.
The underlying context is a sputtering economy. And Washington has no answers because the political and ruling elite cannot imagine giving up empire. Their only answer for crisis is a reduction in the living standards of the general population, and a narrowing of the rather shaky meritocratic base that supports them. The moat is getting deeper and wider, the drawbridge going up.