Don't take my word for it; he's admitted it on the campaign stump.
In a speech to his fellow cultural icons in Hollywood, he said, "Everything we fought for in 2008 is on the line here in 2012. And I need your help to finish what we started. ... We've come too far to turn back now."
Note that Obama did not say this: "My agenda obviously isn't working, so I have decided to make major adjustments. Rest assured that my wholesale failure to get the economy moving again, to create jobs, to reform entitlements and to reduce deficits and debts will not be repeated in a second term.
"I will quit misleading the public with the absurd claim that 7.8 percent unemployment is encouraging, especially when so many have quit looking for work and many who are working have only part-time jobs. I'll stop insisting that I have proposed cutting $4 trillion from spending, when the lion's share of those "cuts" were either forced by Republicans or not scheduled expenditures (on the wars) in the first place. Truth be told, my most recent 10-year budget projects annual average budget deficits of almost $1 trillion -- $9.5 trillion over the next decade. Nor will I throw away hundreds of billions on ill-conceived stimulus plans and green energy boondoggles. I'll also quit making meaningless, unintelligible statements like, 'I will grow the economy from the middle out.'
"I'll quit punishing and bad-mouthing American businesses and entrepreneurs, calling them soft and lazy and accusing them of not building their businesses. I'll finally allow the private sector to breathe. I'll discontinue my empty talk about expanding opportunity until I prove I'm serious about pushing individual responsibility instead of expanding the dependency class. I'll never again accuse the U.S. Chamber of Commerce of taking foreign money and demanding it prove otherwise when I have absolutely no proof it occurred. I'll quit waging war on the coal, natural gas and oil industries. I'll stop taking credit for growing domestic oil production, as any increases have occurred on private, not public, lands. I'll get out of bed with labor unions, Occupy Wall Street and ACORN at the expense of business, producers and the democratic processes. And I'll quit scaring seniors at the expense of future generations.