It’s The Unemployment, stupid.

The announcement a week ago of 10.2% unemployment is a significant political event for President Barack Obama. It could well usher in a particularly serious crisis for his political standing, influence and ability to advance his agenda.

Double-digit unemployment drove Ronald Reagan’s disapproval ratings in October 1982 up to a record high 54%. It was only when unemployment dropped to 7.3%, roughly two years later, that he was able to win a landslide victory over Democratic challenger Walter Mondale in the 1984 presidential election.

Alas, Barack Obama will not have the same opportunity that Reagan did – he doesn’t have the tools (the ideology)…or the people.

Barack Obama is all-in already with his “Stimulus Plan” in the sense that

1) He wants us to think that it’s working, and it is not.

2) As such, he doesn’t want us to think that his Stimulus Plan made things worse, which it did.

Had Barack Obama given America the message that they should have had, that they deserve, it would have been something like this:

Dear fellow Americans: You’ve lived beyond your means and so has your government, and now we must all pay the painful price as our economy returns to a more normalized state. We in the federal government will do what we can by extending unemployment benefits and such, but beyond that, as much as you will hear otherwise from those on the far left, stimulus programs and other gargantuan government spending programs will only worsen and extend the inevitable pain we must all go through to right the ship.

Instead, he doubled down on the failed fiscal policies of George Bush and simply dug the hole deeper.

Now the hole is filling with water and Barack Obama can’t get out.

Obama’s only option politically is to lobby for more stimulus spending and sell the American people on the efficacy of the last one. The former will fall on deaf ears as the deficit becomes an issue with the American people; the latter as the din of high unemployment washes over Obama’s Teleprompterings^™.

His dithering on Afghanistan and misappropriated focus on health care “reform” will be transferred to his economic impotence, and so on and and so on.

A look at more detailed data shows why Mr. Obama’s ratings are likely to drop even further.

A CNN poll released Nov. 6 found that 47% of Americans believe the top issue facing the country is the economy, while only 17% say its health care. However, the bulk of the president’s efforts over the past six months have been not on the economy but on health care, an issue in which he continues to draw negative ratings.

In a Rasmussen Reports poll taken after the House of Representatives passed health-care reform by the narrowest of margins last Saturday night, 54% of likely voters say they are opposed to the plan with only 45% in favor. Furthermore, in the all-important category of unaffiliated voters, 58% oppose the bill. That’s one of the reasons why so many moderate Democratic House members opposed it.

The CNN poll also shows that in addition to health care, a majority of Americans disapprove of how Mr. Obama is handling the economy, Afghanistan, Iraq, unemployment, illegal immigration and the federal budget deficit. Put simply, there isn’t a critical problem facing the country on which the president has positive ratings.

The only way the President gets out of this alive is to willfully and publicly abandon the failed liberal approaches to virtually every issue that has presented itself in his short Presidency.

What are the chances?

Mr. President, Mr. Rock.

“Hello, nice to meet you.”

“Likewise, Mr. President.”

Mr. President, Mr. Hard Place.

“Hello, nice to meet you as well.”

“It’s an honor, Mr. President. Thank you for inviting us into your Presidency. Should we get started?”

2012.

Indeed.