Jeremy Lott says President Obama is failing miserably. Politically, that would seem to be the case, as his poll numbers continue to fall, the GOP's numbers continue to rise, and he seems to be using up all of his political ammunition and credibility in an effort to get his health reform plan passed. Even if he gets something palatable, he may not have anything left.

An economist says U.S. credit is shrinking at a rate not seen since the Great Depression, and could lead to a double-dip recession. I'm not sure anyone really understands the dynamics of the global economy, but I can imagine a number of scenarios, most of them pretty bad.

The decision by President Obama to accept a recommendation to increase the tariff on Chinese-made tires has sparked fear that the Chinese might engage us in a trade war. This would lead to one of the bad scenarios I can imagine.