The Wall Street Journal informs us:
President Barack Obama’s advisors are telling potential donors that he is in a weaker position heading into the 2012 election than he was in 2008 and are detailing potential vulnerabilities of likely opponents, according to people who have seen their presentation.
Is this surprising? The Obama of 2008 ran on promises. The Obama of 2012 will have to run on a record, and a record that is significantly less appealing than the gauzy hope-and-change vision of his promises.