Although I reapect the Mac, the simple fact is he has no charisma and he sucks as a public speaker
Elections, for many, are popularity contests. Who looks or sounds the best.
Unfortunately, "O" wins hands down in both categories.
Add telling the people (that actually think and listen) what they want to hear, appealing to the economy geeks, 8 years of Bush's BS, and a little race, ok, a lot of race, and you have the recipe for a winning election....despite any facts or issues that may be glaringly obvious
We have 4 years of him for now, let's see what he does?
if he does the "right" things, he'll have 4 solid and potentially 4 more (it's the 2nd term that concerns me most).
If he screws things up, he has two (2) before the change. The last 2 will be lame duck.