Charles Krauthammer‘s latest examination of the 44th president’s record leads to some interesting conclusions about the approach Republicans are taking to combat him:

It’s not that the ideological case against Obama cannot be made. Obamacare with its individual mandate remains unpopular. The near-trillion-dollar stimulus remains an albatross. Even the failed attempt at cap-and-trade — government control of energy pricing — shows Obama’s determination to fundamentally transform America. And he is sure to try again to complete his coveted European-style social-democratic project if you give him four more years.

Medicare has nonetheless partially blunted that line of ideological attack. Yet, just as the Democrats were rejoicing in the fruits of their cynicism, in came the latest economic numbers. They were awful. Housing-price declines were the worst since the 1930s. Unemployment rising again. Underemployment disastrously high. And as for chronic unemployment, the average time for finding a new job is now 40 weeks, the highest ever recorded. These numbers gravely undermine Obama’s story line that we’re in a recovery, just a bit slow and bumpy.

Suddenly, the election theme has changed. The Republican line in 2010 was: He’s a leftist. Now it is: He’s a failure. The issue is shifting from ideology to stewardship.