Yesterday, the Wall Street Journal’s Daniel Henninger argued that the “collapse of ObamaCare is the tip of the iceberg for the magical Obama presidency.”

From the moment he emerged in the public eye with his 2004 speech at the Democratic Convention and through his astonishing defeat of the Clintons in 2008, Barack Obama's calling card has been credibility. He speaks, and enough of the world believes to keep his presidency afloat. Or used to.

All of a sudden, from Washington to Riyadh, Barack Obama's credibility is melting.

What will be the political casualties of the president's credibility meltdown? Henninger points to the most high-profile agenda item on Obama’s radar: immigration reform.

Amid the predictable collapse the past week of HealthCare.gov's too-complex technology, not enough notice was given to Sen. Marco Rubio's statement that the chances for success on immigration reform are about dead. Why? Because, said Sen. Rubio, there is "a lack of trust" in the president's commitments.

As Rubio explained Sunday on Fox News, the president’s tactless handling of the shutdown “negotiations” destroyed the trust any Republicans still placed in the administration. And in short, no trust, no deals.

Obama’s credibility crisis isn’t just a congressional phenomenon, it's a rapidly growing public opinion problem. And, as Reuters reports, the administration’s credibility is not only at stake in the U.S., it's standing overseas is in meltdown mode too.