Obama is more like Reagan than Carter, says Mark Schmitt.

But he needs the economy to recover so we can perceive it.

Reagan recovered... in time for the "Morning in America" election of 1984. And so we naturally forget those days when he seemed doomed to be the fifth consecutive president to leave office a failure, rather than the first since Eisenhower to complete two terms and leave more or less respected. (I was kind of shocked to learn of the magnitude of Reagan's slump myself, although I was alive and politically aware at the time.) He recovered not because of his message or his political operation... but because the economy recovered.