In principle it'd be an honor to have any president as a graduation speaker. I certainly never had anyone so notable keynote my commencements.
I think the huge drop in numbers is because the novelty of the "first halfrica-American president" in general and of Obama himself, in particular, has dissipated.
He's can invoke the name as often as he wants but he's no Ronald Reagan. Pres. Reagan had earned people's admiration while Obama is little more than a carnival curiosity. He's grossly underperforming.
If he wins a second term, I see Obama growing into an angry, frustrated man like some hollywood "overnight sensation" who believed their own "greatness" and can't understand where their fans went once the next big thing has come along. W was never that way. Even the adulation addicted Clinton never really believed his own hype. I suspect Obama just might.
I was very happy to note that Reagan spoke at a college commencement at my almamater. If this scum bucket spoke there now, I’d burn my diploma.