Barack Obama told ABC News yesterday that he is the "underdog" in 2012. He actually raced to embrace the title George Stephanopolous threw out there for him. There was no deliberation, no pause — just an immediate "absolutely" to lay claim to the title.First understand that the Obama wants to be the underdog because of America's fixation with rooting for the guy behind. He sees it as a positive.Second, understand that underdogs do not get to take campaign bus tours through swing states at taxpayer expense on buses paid for by taxpayers and also fly around in a blue and white 747 and get pretty much as much free press as he wants, including great photo ops in front of Congress talking about jobs.Underdogs do not get that.Incumbent Presidents get that. And incumbent Presidents do not, more than year from an election get to call themselves "underdogs," if ever they do. When a President is a year from election, sees his popularity going down, and can't even muster enough Democrats to vote for his jobs plan because they neither fear nor respect him, the President is not an underdog. He is a loser.This President is a political loser. Every time he speaks the stock market goes down. Every time he acts boldly, independents attribute it to increasing political desperation without seriousness. Every time he tries to lead, his own party privately mocks him.Jimmy Carter was no underdog and neither is Barack Obama. With the trappings of power, the brightest men in the room to advise them, and massive war chests — Obama's is the biggest there is — he is not an underdog. And it's not just because he is a political loser. Americans cheer underdogs. No one is cheering Barack Obama.