The Republicans are still mostly hopeless, and considering how venal and devoid of principle most of them proved to be during the Bush regnancy, it's hard to feel the least bit of sadness. But the bllom is coming off the Obama rose, not so much because of anything the Republicans are doing but because of doubts from some Democrats. Cap-and-trade, which would be utterly disastrous, imposing huge costs for close to zero benefit even if you're a full-on true believer in anthropogenic global warming, looks as if it's going to die. Although there is still almost no organized opposition, I wouldn't give a thoroughgoing health-care plan much of a chance. The failure to have a plan for Guantanamo has seriously damaged the Obama mystique. And as this Register editorial notes, the "Employee Free Choice Act," or "card check, which would make it inordinately easier to form unions, is likely to go down in flames as well.
To be sure, Obama has taken over entire industries, in ways that do not bode well for a successful return to the private sector, and put in place an immense amount of deficit spending. But I suspect he will prove to be more disappointing thasn advertised to the hard left and less utterly disastrous than feared to the right.