Daniel Drezner asks if there is an Obama doctrine. I don't much like the idea of claiming a doctrine this early on, but I do think he offers an interesting appraisal of Obama's current strategy:
Looking at what Obama has done to date, I'd suggest that his foreign policy doctrine comes by way of Montesquieu -- crudely put, useless conflicts weaken necessary conflicts.
To elaborate: the United States suffers from an overextension of its foreign policy obligations. With a weakened economy and a drop in U.S. standing, it is both costly and fruitless for the administration to continue policy conflicts that yield little beyond pleasing those invested in the policy status quo.
That last point about the status quo hits the nail on the head. Critics of Obama's Latin America policy argue that things should not change, but literally never explain how not changing is going to further U.S. policy goals. Indeed, how many people really go on the assumption that our policies have been working well?