Jack's lost it, but watching 24 with him like this sure beats the heck out of a few weeks ago where he wasn't killing anyone and was spending his time whispering sweet nothings to Renee.
If you are a diehard 24 fan, I highly suggest listening to the 24 podcast. The guys do a great job recapping, breaking down the episode and calling it like they see it (Dana sucks, etc.).
My prediction - Jack kills the President before it's all said and done with. Or at least has an opportunity to make her **** her pants thinking he's about to kill her.
I doubt he kills the President, but I definitely think he scares her shitless. Either way, she's going to be on Jack's **** list. NOT the place you want to be.