According to the Washington Post, Obama is threatening not to recognize the winner of Honduras' constitutionally mandated democratic election in November if the interim Micheletti government doesn't step down and allow Manuel Zelaya to step down.
I've written before on this mess, and later tried to clarify that there was no coup here. Rather, the whole saga is an attempt to deal with the impeachment of a president who should, according to the constitution, clearly be impeached, but unfortunately also dealing with a constitution that doesn't provide a means for impeachment. It's an internal affair that, if we quit our ridiculous posturing, would all work itself out in November when Honduras elects a new democratically elected president and neither Zelaya nor Micheletti have a claim to anything.
I honestly don't understand what Obama thinks he's accomplishing. There's no strategic gain to supporting an unpopular leader who should have been impeached. There's no moral imperative here - no one's imperiling Honduras' democracy here (and if anyone was doing so in the first place, it was Zelaya, who started this whole kerfuffle by trying to unconstitutionally extend his own time in office). So Obama should leave Honduras alone, let Costa Rica President Oscar Arias deal with the negotiations, and see what happens in November.
Unless this is an attempt by Obama to kneecap Honduras in advance of our important World Cup qualifier there on October 10. In which case... interfere away.