If you recall, after the Berlin discotheque bombing in 1986 in which we had evidence of Libyan involvement, President Reagan ordered the bombing of Tripoli that almost killed Gadaffi. From Wikipedia:
The air strike killed 45 Libyan soldiers and government officials, and 15 civilians. Forewarned by a telephone call from Malta's Prime Minister, Karmenu Mifsud Bonnici, that unauthorized aircraft were flying over Maltese airspace heading south towards Tripoli, Libyan leader Muammar Gaddafi and his family rushed out of their residence in the Bab al-Azizia compound moments before the bombs dropped. Gaddafi escaped injury but his 15-month-old adopted daughter Hanna was killed, and two of his sons were injured.[8] However, according to Giulio Andreotti and Abdel Rahman Shalgham, it was Bettino Craxi who warned Gaddafi.Obama could make a real impact if he merely stated that Gadaffi will be prosecuted for crimes against humanity if the carnage continues. Such a threat might reduce the violence, allegedly Obama's goal.
So whatever happened to the whole Obama hearts Reagan thing. Nothing like a real crisis to reveal a leader's true colors.

Here is what the great man himself had to say: