The Journal writes that Karzai "accus[ed] the U.S. of interfering in Afghan affairs and saying the Taliban insurgency would become a legitimate resistance movement if the meddling doesn't stop."
The immediate background is Karzai's attempt to take over the Electoral Complaints Commission before the September parliamentary elections. The US resists this move. Karzai is fighting for his political life by trying to ensure the US doesn't affect the elections.
The US has been trying to get rid of Karzai for some time. They tried to oust him in the Presidential elections last year, but failed when the US designee decided not to pursue a run-off election. The US then let Karzai have the presidency, but has put unremitting pressure on him to become what the US wants or to get out of the way.
Karzai is becoming more and more militant as he realizes the extent to which the US is willing to go to remove him. He has even suggested that he would support the Taliban as a legitimate opposition. He is being courageous, but he faces a powerful opponent.
As for Obama: it is not a good sign for one's war policy when the ruler of the country your are supposedly helping attacks you. Obama's only real alternative is to step up efforts to remove Karzai. But such a step would have significant negative consequences among the Afghans.
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