"It's Still the Economy, Stupid" (Daniel Henninger):

It's been a long time since James Carville said the most famous thing he ever said: It's the economy, stupid. That famous phrase was in fact part of a sign hung in the Clinton campaign headquarters in 1992. There was a sense among the electorate in the fall of 1992, not entirely accurate, that the economy was foundering under George H.W. Bush. Bush lost control of the public's perception of the economy, and then he lost the presidency.

Why with unemployment heading above 10% was Barack Obama on TV last night draining a dwindling reservoir of presidential capital on health care? Redesigning the 17% of the economy that is health care appears to be the siren song of Democratic presidencies. Mr. Obama's crew has famously said it wouldn't make the mistakes the Clintons made on health care. How calling forth both houses of Congress in prime time to join him in betting the ranch on health care qualifies as smarter politics than the Clintons is a mystery.

Even more so now than way back in 1992: It's still the economy, stupid.

To save himself and his party from enduring another health-care debacle, Barack Obama should put his agenda on the back burner, bend his efforts to raising the economy, and rebuild his political capital by taking credit for the inevitable rebound. That just might minimize the impending loss of House seats and allow him to revisit his wish list in 2011. The alternative is promising big, accomplishing little and getting credit for nothing. This could be America's greatest failed presidency.

The economy is Barack Obama's 9/11. If you're Mr. Obama, it must seem a little unfair. One year ago at the Labor Day turn toward the stretch, Mr. Obama and his team were on the cusp of one of the most thrilling wins in American presidential history. No matter that many Obama voters were looking past all the state-based initiatives in his politics; the air was filled with possibility.

Except that Obama wouldn't even have won the election without the financial crisis.  McCain was just overtaking Obama in the polls when the financial meltdown hit and spooked the sheeple into numbly doing what the MSM told them.  But I think Henninger's right: Obama should be trying to solve the country's problems, not creating more.  To deal with health care now is self-indulgent.  The bizarre timing of the health care drive is a function of the fact that the voters aren't likely again to make the mistake they did in 2008, so the Democrats want to (ab)use their power while they still have it.