Young people are not going to put their butts on the line for a president who doesn't seem to know what he's doing, or who abuses his awesome power and lies about the reasons for war, or who doesn't seem overly concerned about the long-term stresses placed on those who serve in the all-volunteer forces.
Barack Obama, at least as a candidate, articulated a correction in the country's military focus, resetting the target as Afghanistan, saying we never should have taken our eyes off the terrorists nesting there in the wake of 9/11.
He also called Americans to service, and he continues to present as a role model to citizens who want in some way to do something for their country. His wife has put military families near the top of her agenda.
Since taking office, Obama has increased troop strength in Afghanistan, and the war has become increasingly deadly for the Americans serving there. The debate is on about how far we go, and how long we go, and the decisions about Afghanistan will be the major test of the Obama presidency.
So yeah, it's the sour economy filling combat boots.
But maybe those who signed up this past year believe in this president more than they believed in his predecessor. They hear Obama talk about reaching out to the Muslim world, about negotiating peace and working through the United Nations, and maybe they believe that we won't be in a state of permanent war, pretty much alone out there. They hear Obama speak and they think this Commander-in-Chief might actually be the one who doesn't lie and who doesn't send them into dubious combat.