I'm disappointed, but there is a silver lining - now maybe Congress will do its job. A number of Democrats and Republicans are breaking ranks to pick up the dropped torch of the Super Committee. I have no illusions about a quick fix, but when 150 members of Congress can get behind reform, there is a kernel of opportunity. Maybe there will simply be a hard push to pass the Bowles-Simpson platform.
But, Obama didn't lead, and he won't - it's not what he does. For electoral politics, he needs a do-nothing Congress, so with this aim in mind, the last thing he needed to do was facilitate something. And, generally, that's just not what he does, and we are seeing a trend - on the biggest challenges of the day, the president gets smaller and smaller, and the power to decide these issues drifts more and more to the houses of Congress.
That's ok, as far as it goes, but that isn't a trendline for a desperately "transformational" president.