Obama failed as soon as he got into office by continuing the Bush bailouts and wars. Failure was baked in the cake. The country is bankrupt and the choice is to either start another war or start bankruptcy proceedings.
We failed years ago, this is just the four decade in the making failure coming to fruiting. Obama is Gorbachev residing over the collapse of an empire.
The trajectory can not be stopped by anybody, regardless of policies.
All he can do is pick up the pieces when done. We have a year or two for that.