The fact that Obama is getting criticism from the left and the right might reflect his understanding of the underlying political dynamics.

Once a popular Alaska governor with a modest record of accomplishment, Palin could conceivably revive her reputation in this era of short memories. But it's hard to imagine her name atop the GOP ballot in 2016, when a cast of heavyweights who sat out 2012 will be vying for the nomination.

Barack Obama won a second term but no mandate. Thanks in part to his own small-bore and brutish campaign, victory guarantees the president nothing more than the headache of building consensus in a gridlocked capital on behalf of a polarized public.

To be fair, my analysis failed to spell out Obama's first-term accomplishments, although I did acknowledge his 'enormous skills' and tried to focus readers on the distinction between good and great presidencies.