It has been a Junius Horribilis for President Obama. Job growth has stalled, the Democrats have been humiliated in Wisconsin, the attorney general is facing a contempt-of-Congress citation, talks with Pakistan have broken down, Bill Clinton is contradicting Obama, Mitt Romney is outraising him, Democrats and Republicans alike are complaining about a “cascade” of national-security leaks from his administration, and he is now on record as saying that the “private sector is doing fine.” Could it get any worse? Early Monday morning, Obama learned that it could. His aides delivered the news to him that his commerce secretary had been...