Occidental, Columbia, Harvard Law, a little light community organizing, a couple of years timeserving in a state legislature: That's what America's elites regard as an impressive resume rather than a bleak indictment of contemporary notions of "accomplishment." Obama would not have withstood scrutiny in any society with a healthy, skeptical press. Yet, like the high-rolling Wall Street moneybags, they failed to do due diligence. Three years on, nothing has changed. Obama is proposing to raise taxes because of some cockamamie yarn Warren Buffett has been peddling about his allegedly overtaxed secretary. Yet the court eunuchs of the media persist in...