President Obama returned from a long weekend with his golfing buddies on Tuesday to take up his by now familiar political stand: If Republicans don't raise taxes in return for more spending, the world will end. We wish he'd stayed on the putting green.

Flanked by emergency medical personnel, Mr. Obama made his usual threat of Armageddon if automatic spending cuts go forward on March 1. Americans can expect more such melodrama in the coming days, so as a public service we thought we'd break down the President's three biggest...