Arjay,
You asked "do we cut (Obama) some slack in the hope that honesty and courage will prevail?"
Here's a Koranic quote from the Messiah's Cairo speech:
'Be conscious of God and speak always the truth.'
It is lifted out of context from a passage calling Muslims to fight the unbelievers.
"Abu Saqer, the head of Jahidiya Salifiyah, an Islamic outreach movement in Gaza, explained there are two main interpretations of the verse cited by Obama: First that you should follow the truth of Allah, but in specific to follow those who are in jihad with the prophet in spite of the great heat of going to war," he said."
http://www.jihadwatch.org/archives/026467.php
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=100504
How much slack should we cut a President who is either incompetent or is calling for a jihad against non-Muslims?
Yes we know the leftwing mainstream media loves him but is that enough qualification for the world's most powerful man?
If you think the media aren't biased, think again:
Here's Newsweek editor Evan Thomas after the Cairo speech describing Obama as "sort of God" .
http://newsbusters.org/blogs/kyle-drennen/2009/06/05/newsweek-s-evan-thomas-obama-sort-god
Here's MSNBC's Chris Matthews' describing how "I felt this thrill going up my leg" in response to an Obama speech, after which he describes his analysis of Obama's speech as "an objective assessment"!
http://www.youtube.com/watch?v=no9fpKVXxCc
Obama is incompetent and the media are sycophants, period.

Obama, according to ex-Arab Muslim misquoted the Koran.

“The Holy Koran teaches that whoever kills an innocent, it is as if he has killed all mankind; and whoever saves a person, it is as if he has saved all mankind." So said Obama in his Cairo speech 4 June 2009 to please his Muslim audience, albeit with complete distortion.

This quote is taken from verse 5:32 of the "Holy Koran". Let us first quote the full verse and see what it says:

Yusuf Ali:
On that account: We ordained for the Children of Israel that if any one slew a person - unless it be for murder or for spreading mischief in the land - it would be as if he slew the whole people: and if any one saved a life, it would be as if he saved the life of the whole people. Then although there came to them Our apostles with clear signs, yet, even after that, many of them continued to commit excesses in the land. [Q 5:32]

First thing to note is that, the command (allegedly of Allah) applies to “Children of Israel” (i.e. Jews). It does not apply to Muslims. That is why you find a lot of killings of innocent civilians by extremist Muslims today. The extremist Muslims read nothing but the Koran and know their stuff better than the moderate Muslims and non-Muslims who don’t read the Quran.

http://www.islam-watch.org/index.php?option=com_content&view=article&id=27:obama-distorts-quranic-teachings-in-cairo-speech&catid=20:jabali

Obama is a pseudo leftist.

The real leftists are the Russians and their way of dealing with the Islamist's jihad is THE ONLY way to succeed.

http://sheikyermami.com/2009/04/27/chechnya-how-the-russians-deal-with-the-jihad/

*Hey Yabby, as far as I can see, a home-mortgage IS Usury, unbridled!.*

Of course Maxi. Home loan interest rates are around the 5.5%
mark and inflation around the 3%-3.5% mark, so your effective
cost is around 2%. What a ripp off!

I remind you that last time I checked, St George were paying
around 8.5% on international funds, NAB recently signed up
at around 5.75%, a few months later. If you were a business,
you would be paying around 10 % for your money.

Maxi, perhaps you should correct your perception of what
usury actually is.

How can you call Rudd left wing. We are all capitalist there is no left wing in Australian politics even the Greenies.

Federal-Reserve;Chairman.Ben.Bernanke..thinks he can hold down US long-term interest rates by purchasing mortgage bonds and US Treasuries...Sixty years ago the Federal Reserve understood that this was an impossible feat.
http://www.prisonplanet.com/long-term-economic-memory-loss.html

After an acrimonious public dispute with the US Treasury,in 1951 the Federal Reserve forced an“Accord”on the government that eliminated the Fed’s obligation to monetize Treasury debt in order to hold down long term interest rates.

The Fed understood that monetizing the debt to hold down interest rates meant loss of control over the money supply...The policy of suppressing interest rates could only work until the financial markets anticipated rising inflation and bid down bond prices.

If the Fed responded by buying more Treasuries,the money supply and inflation would rise faster.
http://whatreallyhappened.com/content/max-keiser-audit-fed-baby-alex-jones-show
Since Fed Chairman Bernanke announced his plan to purchase $1 trillion in mortgage and Treasury bonds in order to help the housing market with low interest rates,..interest rates have risen.

When will the Fed remember that printing money does not lower long-term interest rates?
Fed Inspector General claims to have no knowledge of where 9 trillion was loaned..
http://conspireality.tv/2009/06/07/2439/

Treasury Secretary Geithner is another economic incompetent...He told China that he stood for a“strong dollar,”but that China should let its currency appreciate relative to the dollar,..which,of course, would mean a weaker dollar...He simultaneously told China that their investments in US Treasury bonds were safe.
http://revolutionarypolitics.com/?p=1074

His Chinese university audience,being economically literate,laughed at Geithner...
http://www.washingtonsblog.com/2009/06/head-of-chinas-second-largest-bank-says.html

It apparently did not dawn on the US Treasury Secretary that if Chinese money is rising in value..relative to the US dollar,the value of Chinese investments in dollar-denominated US Treasury bonds is falling.
http://www.washingtonsblog.com/2009/06/87-percent-of-chinese-respondents.html

The federal budget for this year is already 50 per cent in the red. Why add another $100 billion to the red ink,[for more war]..which has to be monetized,thus causing inflation,higher interest rates,and a weaker dollar.
http://news.yahoo.com/s/ap/20090607/ap_on_go_ot/us_wartime_contracting_report
http://moneynews.com/economy/senior_foreclosures/2009/06/08/222669.html?s=al&promo_code=811A-1
http://www.boston.com/news/local/massachusetts/articles/2009/06/08/newest_tax_scofflaws/

the tale of the 5 mon-keys
http://www.youtube.com/watch?v=KZeiSKnhOBc