It has been a tough week for the president. Just as things were supposed to be getting better for him—as they were for the economy—his support and approval ratings took a severe hit in two important polls. And then there was a survey that indicated that 80 percent of the population does not consider itself better off than it was four years ago.

This sort of thing is insupportable, not just to the president and his team but also to a vast segment of the political class that is deeply and emotionally invested in his success and the continuation of his cause. If, that is, you define that cause as the steadily increasing power of Washington and the political class over all aspects of life … and most of the money.