The real hope for Obama here is that Bin Laden's death sparks a psychological change that leads to a sharp economic recovery.
^ This
Its mainly mental, and I don't think hat impact can be overplayed. I was out last night on Boston Common at 2AM, and there were hundred there. I think this is a meaningful generational moment, and that could help Obama leaving aside everything else. But its indirect at best.
It is, however, I feel, much more likely to hurt the GOP than help Obama. The GOP has been running on pessimism the last year and a half. Whether it is the Ryan Budget, or the language, every GOP candidate has been playing an America in decline, the world getting worse, we must live with less, narrative. That is not how Reagan or frankly anyone except maybe Nixon in 1968 ever won, and evidence is that while it is good at tanking an incumbent's numbers, it is not something people will vote for. Bin Laden's death helps shift the mood, which is a bad thing for Paul Ryan.