He isn't quite ready to say it is all a mistake, but David Gergen seems to be having his doubts about the Won.

Does an intense presidential focus on the economy mean that health care reform and energy reform must be put aside? Not at all. They are too important to be sidetracked. But it does mean that the White House should consider putting them on a slower track, perhaps trying to bring health care reform to a final vote next year. The U.S. needs to have a climate change plan for international negotiating purposes late this year, but elements of new energy legislation might also be slowed until next year, too. It is worth further debate whether the President’s budget plan – which many in business saw as an assault on them – is now having a damaging effect upon the very stock market that his team wants to stabilize.