Charles Krauthammer, cutting and concise (as per usual) in his new column:
An Obama second term means that the movement toward European-style social democracy continues, in part by legislation, in part by executive decree. The American experiment — the more individualistic, energetic, innovative, risk-taking model of democratic governance — continues to recede, yielding to the supervised life of the entitlement state.
If Obama loses, however, his presidency becomes a historical parenthesis, a passing interlude of overreaching hyper-liberalism, rejected by a center-right country that is 80 percent nonliberal.
One slight modification: it only becomes a parenthesis, it seems to me, if Obama is defeated and Obamacare is repealed. Getting rid of the president = good. Getting rid of the millstone he's put around the neck of a free people = even better.