I have not seen a Presidency collapse this quickly since Bill Clinton in June 1993. What looked like a great future for Democrats and their policies turned into a disaster almost overnight. Clinton barely passed his budget and tax package by a 218-215 margin in the House, his stimulus package was killed by Senate Republicans, and his proposal to let gays in the military was killed. That victory on the budget and tax package was the last victory Democrats and liberals got during the Clinton administration. The rest is history for Democrats.
Barack Obama is following the exact same path. He got a big victory on the stimulus package and nothing since then. His plans to close Guantanamo Bay have been squelched, his energy program looks dead, and healthcare reform is in grave support of going the same way. Just like Clinton, he has a media that will do anything to destroy him(witness the setup by Lynn Sweet during the healthcare debate). Democrats look likely to drop both of the governorships up in 2009, just as they did in 1993, bringing their national edge in governors to a puny 26-24 over Republicans.
I dont see how Obama can turn this thing around in time for the 2010 elections. They are going to be BRUTAL and Democrats are going to have to look at purchasing hurricane proof windows and bring every plant inside for protection. People are angry at Democrats for not delivering on the economy, healthcare, and spending and are not just going to vote for Democrats because "Republicans are so much worse". In 2006, Democrats had horrendous ratings and yet they still won big. I know people are going to rag on me because of this, but I have to say that the 2008 election was a curse that was bound to ruin whatever party won it. Things are just so bad with the economy that anybody who won in 2008 was bound to fail.