He got his moderate reputation by supporting Bush on defense and the war.
What I took from this is that the unions are getting unhappy, since they are not seeing jobs appear. Bayh is yet reluctant to criticize Obama, so he is making up a bunch of "what I would have done" and "we need to be patient and wait" stuff.
As of now there is no challenger. The Indiana GOP knows Bayh is still a formidable opponent, so they will wait to see if his support weakens. (He's very good at sounding like Blue Dog here in the state and making feel good commercials during campaigns). If his support weakens, they will probably try to get someone to run. If he doesn't lose support, they will draft some doofus just to create the appearance of a contest.
Need jobs? Create an incentive to hire people.
1. Renew the Bush tax cuts to encourage businesses to expand include in that tax reform package an elimination of the capital gains tax. Pay for it by a 2 year freeze on Government spending and a re-imposition on the 1995 Pay as you go Congressional budget rules with none of the current loopholes
2. Offer a $1500 per new employee tax credit to business to cover the hiring and training costs.
3. Kill cap and trade, health care reform and all the other boodgoggle anti capitalism bills currently being considered in the Congress. Have 0 vow to veto any legislation that will cost real current US jobs with vague promises about imaginary Green job in the future.
4. Put the same time and effort they wasted on their health care destruction bills, to create and pass the "Developing Americas Resources" act to remove all legal bottlenecks and obstacles in Government regulation and permit process that is blocking development of all US energy resources and commit the US Government to exploiting any and all US energy sources to end our dependency on imported energy by the year 2020.
What all this current govt intervention in the Economy is doing is causing business, and capital, to hunker down in a bunker mentality wondering what new Govt boondoggle they are going to be told to pay for.
The problem is lack of jobs, the solution is to incentives the 10s of thousands of businesses around the country to hire a few people and create new jobs by eliminating Govt regulations that prevent us from doing things to develop our own energy resources.
These are long term solution that also provides immediate short term gains.