Commentators to Jacob Sullum's article at Reason.com try to analyze whether Obama is a liar or just self-deluded. I've made some efforts along those lines myself and confess I have no set-in-concrete conclusion.
True, he does lie from time to time (ok, often), but do they rise above and beyond the usual politician's dissembling? Only his hairdresser knows for sure.
What we can say with certainty is that he is a Progressive and a Pragmatist. Both those philosophies make distinguishing between fantasy and reality very difficult, since Pragmatism implies there is no such distinction and Progressivism provides a moral motivation for not feeling compelled to make the effort.
So, the search for the real Obama continues...