From TPM Reader DK …

I could be wrong, but I get the feeling Obama’s approval is directly linked to Health Care. I definitely cooled to him quite a bit, and it’s due to the fact that he doesn’t seem willing to reform financial institutions or go for the gold on the public option.

This seems to be a critical moment in his presidency. A real healthcare bill with a public option will restore faith in him from the base and give centrists, who are more result oriented than concerned with what the results are, something to latch on to that he’s still in control. A toothless health care reform bill will be very difficult to recover from because he will be both chastened, and people like me will have lost faith in his boldness and commitment to change.

Obama, and the Democrats, fate is now entirely dependent on whether they come out of the health care fight taking on the special interests for the people, or having lost their spine in the face of corporate pressure.

I don’t think the Democrats and Obama realize this, in their bubble facing pressure from insiders and industry, but at this point, self-preservation requires that a bill with a public option be passed by Democrats alone.

What does the party run on in the midterms if they don’t? We know what the GOP will run on: the party’s biggest failure.