I’d say Stephens offers a pretty fair assessment of what is about to transpire in November, from the article in the Wall Street Journal (January 24, 2012):

Let’s just say right now what voters will be saying in November, once Barack Obama has been re-elected: Republicans deserve to lose.

It doesn’t matter that Mr. Obama can’t get the economy out of second gear. It doesn’t matter that he cynically betrayed his core promise as a candidate to be a unifying president. It doesn’t matter that he keeps blaming Bush. It doesn’t matter that he thinks ATMs are weapons of employment destruction. It doesn’t matter that Tim Geithner remains secretary of Treasury. It doesn’t matter that the result of his “reset” with Russia is Moscow selling fighter jets to Damascus. It doesn’t matter that the Obama name is synonymous with the most unpopular law in memory. It doesn’t matter that his wife thinks America doesn’t deserve him. It doesn’t matter that the Evel Knievel theory of fiscal stimulus isn’t going to make it over the Snake River Canyon of debt.

Above all, it doesn’t matter that Americans are generally eager to send Mr. Obama packing. All they need is to be reasonably sure that the alternative won’t be another fiasco. But they can’t be reasonably sure, so it’s going to be four more years of the disappointment you already know.

For all the Obama haters, there is some consolation in a second term for the President:  The US will be done with him after 2016.  He can’t run again.  He can become a “statesman” like Hillary’s husband.  Of course, he could put up Michelle as a candidate, sort of like Bill did with Hillary, first in the Senate, and then for President.  We’re looking more and more like Argentina every day.