Conservatives are taking too much solace in the precipitous drop in Barack Obama's approval ratings, and too many of us are overconfident that his administration is merely a replay of the hapless presidency of Jimmy Carter that was easily swept out in a landslide election. Today's situation is far different, far more conducive to our political adversary's political power, than that which faced Carter. And Obama is an entirely different breed of cat. He's more ruthless, more tactically savvy, and has far more dangerous objectives. A drop in his poll ratings isn't as serious a setback for him as similar...