People often say the success of democracy depends on an informed electorate. Given his record, that's the last strategy Obama can afford to embrace. Short of a fortuitous economic miracle falling into his lap, his only hope for re-election is that enough voters are misinformed.
From day one, Obama has been savaging George W. Bush for bequeathing him "the worst economy since the Great Depression." But he hasn't scapegoated Bush alone. He also impugned "fat cat bankers" on Wall Street and other evil corporations for "creating the mess" and for being its primary beneficiaries while everyone else was hurting. Conveniently, he didn't point his accusing finger at the real culprit, the liberal affordable housing policy that he supported.
He leveraged his vague slander against Wall Street to bolster his case against free markets and "crony capitalism" and to lubricate the public for his statist remedies across the board.
His goal was to fundamentally change America -- almost overnight -- with an accelerated push toward socialism, all while insisting he was a "fierce advocate of the free market" and committed to the American ideal. He just loved capitalism, but it couldn't possibly work when all the powerful and moneyed interests were loading the dice.
So he presented himself as the great reformer who would save capitalism, which was just an unsophisticated recycling of the case that history revisionists have argued since the 1930s and '40s to rationalize Franklin D. Roosevelt's socialist crusade. (One of my college history professors actually contended that FDR was the quintessential capitalist because he only expanded government to save capitalism.)
The scope of Obama's undertaking has been breathtaking, as has been his level of deceit in promoting and implementing it. Borrowing from both the Saul Alinsky and Cloward-Piven models, he excused the real culprits and demonized false ones to saddle the nation with historically reckless spending programs.