The electorate at large isn't nearly so unhappy with President Obama as critics on either end of the political spectrum. New NBC/Wall Street Journal polling shows him reasonably well situated for re-election in 2012, particularly considering he's had a very tough year. The tax deal, however odious it might be in some respects, helps him still further with most voters. Continued modest economic gains also don't hurt.
The best news of all would be a Sarah Palin candidacy. She trails Obama in the pollling by 22 points.