Even now, President Obama has done nothing to interfere with our rights under the 2nd. He has not decreased the ammo supply (that was our doing by buying all that the manufacturers could produce), nor has he reduced the availability of firearms to any person or group.
ATF has taken certain steps to find out who is selling to straw buyers headed to Mexico, and has gone after FFL's and others who are found to be violating our laws. So what? ATF has done this for a great many years, not just under this administration.
So quit making stuff up, and wait until you have something to complain about. The sky isn't falling yet. The President is a constitutional scholar, and he does understand, and has said, that we have an individual right to keep firearms for sporting and self-defense purposes. He does believe in restrictions, many of which you and I would find unacceptable, so we will see how far the administration goes in the proposal.
If the proposal comes as described, then we need to look at it. If it simply takes measures to prevent sales to those with a known, legally-defined mental defect, maybe we shouldn't be so upset.
Look at this for background:
http://gunowners.org/ne0703.htm
Possibly, the new rule will simply follow-up on this and codify something which has languished. I personally dislike the government keep tabs on people, but if the only way to catch a mental defect is a question on a form, answered voluntarily by a purchaser set on doing harm to someone, we don't really need a rule.