Inauguration 2013: How Obama is different from four years ago (+video)

Then there’s gun control, which Obama barely mentioned in his first term but has become an emotional priority following last month’s school massacre in Newtown, Conn. On that front, some of the legislative elements – especially a renewed ban on assault weapons – will be difficult to get through the GOP-run House. He also took executive action on gun violence, a work-around that he has turned to increasingly on a variety of issues since the Republicans retook the House two years ago.

Still, working on the edges doesn’t fit Obama’s “go big or go home” philosophy of governing. And on the biggest issue of all – the sluggish economic recovery, marked by unemployment still near 8 percent and stagnant wages – Obama still harbors hopes of additional spending in education, research and development, and infrastructure. The core promise of his reelection campaign was to revitalize the middle class, no small goal.

“He doesn’t want to leave here in four years having put through a few executive orders on guns and maybe an immigration bill,” says Democratic strategist Peter Fenn. “He wants folks to say, ‘Jeez, this was big, this was a big presidency.' ”

Obama is aware of the potential pitfalls ahead. “I’m more than familiar with all the literature about presidential overreach in second terms,” he said in his first post-reelection press conference.

Political capital earned from reelection, and from the accompanying boost in job approval, could be fleeting. Obama is, by definition, now a lame duck. By the middle of next year, the political world will be embroiled in the next midterm campaign, and once again legislating will take a back seat. So realistically, he has only 18 months in which to add more domestic accomplishments to his legacy.

Typically, second-term presidents turn to foreign policy, where they have freer rein. To be sure, Obama has many challenges ahead: Iran’s nuclear ambitions, declining relations with Russia, the rise of China, instability in the Arab world.

But it’s possible that Obama will buck the “second term globetrotter” convention, as he gives domestic priorities top billing – backed up by a war-weary nation. Of course, it’s impossible to predict events, but his choice of Defense secretary, former Sen. Chuck Hagel (R) of Nebraska, suggests a focus on the home front. Mr. Hagel is known for his past opposition to the Iraq War and to future foreign military entanglements.

In the end, just by winning reelection he has guaranteed that the signature achievement of his first term – Obamacare – will not be repealed. His administration is now focused on implementation. But whether health-care reform ends up being his biggest legacy remains to be seen.

“I wouldn’t rule it out,” says Bruce Buchanan, a political scientist at the University of Texas, Austin. “The ultimate answer requires it to be rooted and prized, like Medicare and Social Security. Half the country doesn’t even understand it. It will take a generation or two before that happens.

“But if it does take root,” says Mr. Buchanan, “he’ll be in the pantheon.”

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