And today's Supreme Court ruling --, which established in no uncertain terms that ObamaCare is a TAX -- will not make the law more popular in the long term.

Indeed, it will mean that the legislation will now be explicitly seen in the context of higher taxes for hardworking Americans at a time of weakened economic conditions.

This means that going forward in the election campaign, it will be increasingly difficult for President Obama to defend an unpopular law at an unpopular time -- thus working to Republican challenger Mitt Romney's advantage.

What the President needs to do is something that he has been reluctant to do -- take on the issue of entitlement policy in the context of overall fiscal and budgetary reform.

He must position ObamaCare as the centerpiece of an overarching plan to address the issue of costs in a serious and sustained way, while simultaneously  facilitating economic growth and private sector job creation.