Ah the exuberance of the Obama supporters just two years ago.  Peggy Joseph was especially fervent in her unrealistic expectations of Obama, but I think it is fair to say that most of his supporters really did think Obama stood for Hope and Change, whatever that campaign shorthand was supposed to mean.

After two years of an economy in the tank, and government running the largest deficits since World War II as a percentage of gdp, I think the woman who spoke up yesterday at an Obama townhall speaks for many of Obama’s erstwhile supporters:

“Thank you very much. And quite frankly, good afternoon, President Obama. I am deeply honored to finally be in this forum and so grateful for CNBC for making the forum available so that you can speak to American citizens just like myself. I am a chief financial officer for a veterans service organization Amvets here in Washington. I’m also a mother, I’m a wife, I’m an American veteran, and I’m one of your middle-class Americans.

And quite frankly, I’m exhausted. I’m exhausted of defending you, defending your administration, defending the mantle of change that I voted for, and deeply disappointed with where we are right now. I’ve been told that I voted for a man who said he was going to change things in a meaningful way for the middle class. I’m one of those people and I’m waiting, sir, I’m waiting. I don’t feel it yet. And I thought while it wouldn’t be a great measure, I would feel it in some small measure. I have two children in private school, and the financial recession has taken an enormous toll on my family. My husband and I joked for years that we thought we were well beyond the hot dogs and beans era of our lives. But quite frankly, it’s starting to knock on our door and ring true that that might be where we’re headed again.

And quite frankly, Mr. President, I need you to answer this honestly, is this my new reality?”

Sometimes one incident highlights political developments in a way that everyone can understand.  This woman, Velma R. Hart, demonstrates that even hard core Obama voters are getting fed up with an administration that simply has no clue as to the steps needed to jump start the economy.  Since 1820 in this country voters have usually operated on a simple rule:  the party in power is rewarded when the economy is good and punished when the economy is bad.  Obama thought the way to improve the economy was through massive deficit spending.  He chose poorly.