Noonan on Obama.

The short version of the Obama collapse:

"How did it happen? It still comes down to three big mistakes: the president's spending decisions, his health-care bill, and the White House's strange inability to understand the breadth and depth of the economic crisis. Spending was both high and same-old-same-old: The 2009 stimulus and the budget proposals were Democratic wish lists. This at the exact moment voters were coming to fear that we are losing America, the strong country of old, and the first thing we must do to right things is stop the hemorrhagic spending in Washington. The health-care bill was huge, expensive, vaguely menacing and lacking in any serious reform. Most amazingly, the White House failed to understand what the financial crisis was. They did not understand it was systemic, world-wide, would last years, and would change everything. They seemed to think it would pass. But the crisis rendered old campaign promises null, and demanded new approaches."

Read the whole thing.