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.

Having a sense of humor has served me more than it has hurt me - just in the sense that it has allowed me to keep my sanity.

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.

Women have a lot of power in private life. There are many men who would say, 'Hey, women already rule my life.' But with women, more is more. The more there are, the more the world gets used to seeing them. We change the culture. We begin to expand options and lead and manage.

Bill Clinton sitting on Air Force One getting his hair cut while people around the country cooled their heels and waited for him, became a metaphor for a populist president who had gotten drunk with the perks of his own power and was sort of, you know, not sensitive to what people wanted.

Part of Obama's persona is self-reliance. He's calm; he's cool; he's self-possessed. In many ways, he has tried to define himself in opposition to Clinton's sometimes needy, often undisciplined, emotionalism.

This is a generation weaned on Watergate, and there is no presumption of innocence and no presumption of good intentions. Instead, there is a presumption that, without relentless scrutiny, the government will misbehave.