Some will scoff at the notion that Obama and his large ego would walk away from the office, but LBJ was also rumored to think pretty highly of himself. It's a low-probability outcome, but it isn't a zero probability outcome. Obama's ratings have tanked this year along with the economy, and he hasn't come up with an original thought on economic policy since Porkulus. The leaks of his rumored plan sound a lot like Porkulus II, a sequel to a flop. This gives the impression that Obama has run out of ideas, and as Noonan argues in her piece, his attacks on Republicans for their supposed refusal to pass a plan he has yet to even submit to them sounds like a man who realizes that he's out of ideas, too.As we know from the presidential example most like Obama, Jimmy Carter, being out of ideas is not enough to keep someone from running again.
I personally think he won't be able to resist one more campaign, even if futile. He clearly prefers campaigning to governing and doesn't like being trapped in Washington. As long as he still has the keys to the helicopters, jets and limos, he's going to use them for one more year of ego boosting. Since no other Democrat seems interested in stopping this train wreck, he'll at least have a bunch of primary victories to look forward to.