Obama seemed poised to realign American politics after his stunning 2008 victory. But the economy remains worse than even the administration's worst-case scenarios, and the long legislative battles over health care reform, financial services reform and the national debt and deficit have taken their toll. Obama no longer looks invincible.

In the run-up to the 1992 Democratic convention, Clinton's campaign realized that voters thought the young governor had a privileged upbringing. They didn't buy his alleged concern for the middle class.

And Clinton was like that - he saw the whole playing field. He didn't just see the event that he was at or the circumstances of that week or that month. He saw the whole playing field all the time.

That's not to say that women's priorities are better than men's. Rather, when women are empowered, when they can speak from the experience of their own lives, they often address different, previously neglected issues. And families and whole communities benefit.

When I first started working in politics, as a junior aide on Walter Mondale's 1984 presidential campaign, it never occurred to me that I would one day work in the White House. There were plenty of women among the volunteers who stuffed envelopes and walked precincts. But there were fewer and fewer on each successive level of influence and access.

I am encouraged to see women are being elected in Chile, Argentina, Liberia, Ireland. More is more.

I worked for a lot of candidates, in tough campaigns that lost. Most of my candidates lost until Bill Clinton. There was always a point where you look in their eyes and they knew it was over. And there was never that point with Clinton. He never quit. He never gave up.