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Republican South Carolina Sen. Jim DeMint says if Obama fails on healthcare, it will "break him"; it will be "his Waterloo." DeMint is right.

Those of a certain age remember the Jeff MacNelly cartoons during the Carter administration. As each day seemingly brought fresh setbacks, MacNelly's cartoon president shrank until he was a mini-me struggling amid the vast space of the presidential chair. Although he lacks Carter's tut-tut lecturing and, so far, foreign policy disasters, although Americans are proud of themselves for electing an African-American president, I sense Obama shrinking every day.

Many of the failures are not his. Obama inherited a nation in greater trouble than at any time since 1933, perhaps 1861. Not for nothing did the Onion have the headline: "Black Man Given Nation's Worst Job." In addition to the financial panic, Obama got two wars, foreign policy in disarray, a huge budget deficit, a government that had attacked civil liberties and enshrined torture as policy. He took over a nation that is in hock to China and the petro-states, that has been deindustrialized and seen its middle class devastated by policies to serve the corporate elite. And a nation ill-prepared for climate change or peak oil — indeed, one digging itself ever deeper in the hole.

He and his party, however, continue to make critical missteps.

Spring runs out and the American republic celebrates its societal strength and political will by regulating tobacco. That'll show the tobacco companies, long past their period of influence, and the diminishing ranks of smokers, primarily made up of the poor and disenfranchised.

Meanwhile, 10 big banks have begun repaying their bailout money to the taxpayers. Their primary reason is not to do the right thing or return to the business of funding productive enterprise. It is to gain the freedom to jack up the compensation of their 25 top executives. Like the Bourbons, the big bankers have learned nothing and forgotten nothing. Unlike Big Tobacco, they not only retain their political clout — defeating an effort to regulate dangerous derivatives — but seem to largely run the federal government.

The consequences of this are manifold. The institutions that were "too big to fail" should have taught us that they are too big to exist. Instead, they have grown even larger. The secrecy of the Bush administration that led us into the Iraq fiasco has become the secrecy of the Geithner-Summers-Bernanke administration. We have only the tiniest sense of where the trillions in bailout money and "lending facilities" went, or who scratched the back of whom. We know, for example, that tax money went to help AIG repay Goldman Sachs which repaid…? You get the picture. Meanwhile, real unemployment is at least 16 percent, and millions may never regain their old earning power. Some may never be employable again outside of Wal-Mart.