He will lead us to fiscal ruin. If we do not restrain spending and the concommitant printing of money, the world will abandon the dollar as the reserve currency. The day after that happens we are Greece.
He has assumed dictatorial powers. Can't pass cap and trade? Use the EPA to destroy the coal industry, impose an illegal moratorium on Gulf drilling (in defiance of a federal judge), and limit drilling on Federal land. Can't pass the Dream Act? Just don't enforce existing law and start issuing work permits to illegal aliens who really do not have to prove in any meaningful sense that they are Dreamers. Don't care for the work requirement in the Clinton/Gingrich welfare reform? In contravention of that reform, just allow states to waive the requirement.
He has presided over and encouraged a culture of corruption that makes the Teapot Dome look like a tea party. His Department of Energy has bestowed billions of dollars on now bankrupt "green" companies owned by those who raised significant amounts for his first campaign for the Presidency. He invested tens of billions of dollars in GM, at least 25 billion of which will never be recovered, for the principal purpose of preserving the unproductive work rules and pensions of the UAW, while at the same time presiding over the gutting of the pensions of the non-union workers at Delphi. In the process he trampled on the rights of GM's bondholders (many of which were pensions)thus raising the cost of debt for all American companies. He used hundreds of billions of dollars from the stimulus bill to preserve the jobs of unionized public employees who generally contribute to and vote for Democrats. Not suprisingly this indirect subsidy of Democrat campaign coffers for the 2010 elections didn't stimulate the economy very much. Finally, the vast majority of waivers granted under Obamacare have been with regard to union health plans or the health plans of unionized companies.
In foreign policy he has been a disaster. His support of the "Arab Spring" is looking very much like support for an Islamist Winter. The man who inveighed against the invasion of Iraq, the detention facility at Guantanamo and terrorist renditions has kept Gitmo open, placed our hard won gains in Iraq in jeapordy by failing to negotiate a status of forces agreement with Iraq, expanded the war in Afghanistan, bombed Libya and used predator drones to a far greater extent than his predecessor. His sacrifice of the Polish missile defence to "reset" the relationship with Russia has garnered no noticeable benefits. And Iran is four years closer to a nuclear bomb.
Against the wishes of a majority of the American people he pushed Obamacare through a deeply divided Congress based on a tissue of lies, claiming that it would not increase the deficit and that folks who liked their insurance and their doctor would get to keep both. The first claim is clearly not true and the additional claims will not be true for many Americans.
He signed Dodd Frank, major portions of which were just incomprehensible and which does little to nothing to address the causes of the crash but does impose significant new regulations and costs on the financial sector of our economy.
In part as a consequence of his misuse of the stimulus, the passage of Obamacare and Dodd Frank, and his almost constant denigration of the successful among us, he has presided over the worst recovery in 70 years and the longest sustained period of high unemployment in living memory.
In four years he has increased the national debt more the W did in eight years even though W had to contend with the Pelosi Congress for two years.
He has begun to force Catholic institutions to choose between remaining true to their faith and providing insurance to their employees and others; and if Great Britain is any guide, much worse is to come in that regard.
For the first time in history, his National Labor Relations Board found that the opening of a factory and the creation thereby of thousands of new jobs is an unfair labor practice. Why? Because the factory was being built in a right to work state.
Why does he still garner anywhere close to the support which is apparently his?
Perhaps because the press, instead of talking about the issues described above, which are of surpassing importance to our country and our children, would rather talk about Romney's dog and tax returns and Sandra Fluke's concurrent ability to pay the tuition of the law school at Georgetown and her inability to afford $10 per month for contraception.
Short answer: bread and circuses.
The bread of government welfare and entitlements.
The circuses of the entertainment industry and media, who have numbed the minds of many Americans, killing their sense of history, their ability to question and think critically, and their ability to distinguish entertainment from real life.
The entertainment industry and media have supported BO without challenge or criticism of any sort. He is the "entertainment President." To borrow from Daniel Greenfield/Sultan Knish, he is President not of America, but of the lazy and the easily entertained.