From Matt Stoller:

Josh Marshall and Mark Schmitt each predicted that the Social Security failure would haunt Bush, and crack Republican power. That didn't happen. I heard that the filibuster failure would cripple Frist. Nope. Delay's scandal would cause the House to descend into a 'Lord of Flies' style chamber. No. Lying to bring us to war, that would surely crumble his support. Not really. No weapons of mass destruction, come on, that's nuts, the American people wouldn't shrug that off. They did. Bribery in the prescription drug benefit. Eh, boring. The list is practically endless. In fact, at various points, liberal netroots-savvy experienced pundits have predicted that Bush and the right-wing's power was at a critical turning point, and would crack any second now. Reporters are really mad, they'd say, and will go after the President. But it just hasn't happened.

Why not? Many reasons. Go back to Peter's report, and read it. Powerful actors, like the top-down media, will not attack the President unless they think he's weak. But to make the case that he is weak, he must be treated with contempt, and that cannot happen when party leaders like Barack Obama simply refuse to act creatively and risk driving up their disapproval ratings. I ask, for instance, why in speeches is Obama saying that Bush is not a bad man? Why is he saying that Bush loves his country? How does that help us make the case that Bush is a liar and a fraud? It doesn't. It in fact undercuts our case, and the fact is, we are right and he is wrong, and it is important that our case base be made.

Update:Similar sentiment from Peter Daou