While labeling Obama policies as conservative or liberal helps simplify certain issues for most people, I usually find it inadequate and actually problematic because it reduces analysis to very simplistic thinking.
You may characterize Obama’s policies as “conservative” or “realistic” but that does not mean that it is correct. He was wrong on the surge. He said it wouldn’t work. He was extremely wrong. He even changed his website to remove his criticism of the surge.
He has also stated that he believes terrorism (and Islamic terrorism specifically) is the result of poverty. Another wrong assumption. There are studies that prove him wrong as well as any reasoned analysis of the islamic threat.
His knowledge and understanding of history is also severely lacking. He recently commented about the “bomb that hit Pearl Harbor”. It wasn’t just one bomb, there were several bombs launched by the Japanese against Pearl Harbor. It’s interesting to note that not only does he have a good understanding and knowledge of history of his own country, he also has the same lack of depth when it comes to the state he lived in and spent most of his childhood in.
I also see an appalling pattern within Obama that many times, facts, history, and logic are inconviences to his world views. Unfortunately, this pattern is also common to his rabid supporters.
So everyone can label his views as “conservative” or “liberal” and choose which side is appropriate. However, it doesn’t change the fact that there are serious deficiencies in his qualifications and analytical thinking when it comes to foreign policy.