Eric Zorn at the Chicago Tribune tries to set the record straight:
Contrary to a widespread misconception, and in part as a result of close attention to empirical evidence, there has been a decrease, not an increase, in federal rulemaking during this administration. During the first three years of the Obama administration, the number of final rules reviewed by OIRA and issued by executive agencies was actually lower than during the first three years of the Bush administration... Cass Sunstein, administrator of the federal Office of Information and Regulatory Affairs.
Problem is, the actual record doesn't matter (more). The strange thing is that the mythical Obama created by conservatives -- the one who spent more than conservatives, imposed more regulation, protected civil liberties, won't budge on entitlements, etc. -- is probably more attractive to liberal voters than the real deal. But I guess that's not their target audience.