Blame unregulated campaign cash. Blame obstructionist Republicans. Blame George W.?Bush. President Barack Obama has campaigned hard. But his themes sound less like appeals for votes and more like excuses for the impending Democratic defeat.

The explanation for this defeat is straightforward. Unemployment is worse than when Mr Obama took office. New jobs are being created at a miserable pace. More homes will be foreclosed in 2010 than 2009. Indeed, September 2010 was a record-breaking month as 102,134 families lost the roof over their heads.

Despite the massive recession, consumer prices have also not dropped. Gasoline costs more than it did a year ago. College tuition and health insurance continue their remorseless rise. Meanwhile older voters face cuts, to their Medicare health coverage to finance subsidies to the uninsured as part of Mr Obama’s healthcare plan. Americans also face higher taxes due to the same reform: new federal taxes on payrolls and investment, and additional state taxes to cover the increased cost of Medicaid. Mr Obama can justifiably say that he has passed important legislation, but voters do not reward the passing of laws. They reward improvements in their lives. Where’s the improvement?