Here is the cover story:
“The president has broken his promises, and Romney-Ryan’s path to prosperity is our only hope.”
UPDATE: I want to emphasize that it is important to read Ferguson's whole article. It's long, but it is a complete (and devastating) summary of the Obama presidency.
On tipping points and preference cascades:
The result was a situation in which a lot of people's behavior didn't really match their beliefs, but merely their beliefs about what was considered acceptable. Such situations are unstable, since a variety of shocks can cause people to realize the difference and to suddenly feel comfortable about closing the gap.
This illustrates, in a mild way, the reason why totalitarian regimes collapse so suddenly. (Click here for a more complex analysis of this and related issues). Such regimes have little legitimacy, but they spend a lot of effort making sure that citizens don't realize the extent to which their fellow-citizens dislike the regime. If the secret police and the censors are doing their job, 99% of the populace can hate the regime and be ready to revolt against it - but no revolt will occur because no one realizes that everyone else feels the same way.
This works until something breaks the spell, and the discontented realize that their feelings are widely shared, at which point the collapse of the regime may seem very sudden to outside observers - or even to the citizens themselves. Claims after the fact that many people who seemed like loyal apparatchiks really loathed the regime are often self-serving, of course. But they're also often true: Even if one loathes the regime, few people have the force of will to stage one-man revolutions, and when preferences are sufficiently falsified, each dissident may feel that he or she is the only one, or at least part of a minority too small to make any difference.