Medved is ignoring Obama's one decisive weapon - Mitt Romney.
Americans were outraged by the TARP, the bailouts and ObamaCare, so what do the Republicans do? They nominate a man who supported the TARP, the bailouts and is the godfather of ObamaCare. This election will have a remarkably small turnout as free market conservatives and libertarians stay home.
For the historically minded this election is a virtual repeat of the 1936 election where a tyrannical Roosevelt with a collapsing economy and given to rule by edict was opposed by a Roosevelt-lite Republican, Alf Landon. Roosevelt won a mere 46 states.