Of course it has nothing to do with his policies.

Via Politico:

PRESIDENT OBAMA, at a fundraiser last night in L.A.: “[T]he American people, beneath all the pain and hurt and frustration . . . still want to believe that that change is possible, and there’s still that hope there. . . . Mario Cuomo once said that campaigning is poetry and governance is prose. . . . [W]e’ve been slogging through ‘prose’ for the last three years, and sometimes that gets people discouraged. Because people, they like the poetry.”