I am intrigued. It doesn't look so bad from over here. Do you mean bad relative to the expectations in him, or bad relative to the previous incumbent?
He does look pretty cautious from outside, and we all have a good laugh over here about the tea-baggers (they fulfil all our prejudices about crazy Americans). But apart from a loss of inertia, we do not see terrible wickedness emanating from the Obama Whitehouse. There are no anti-Obama protests in Europe, (though I guess there are in Pakistan).
Anti-incumbent sentiment is pretty much a given in post-cold war politics. Is it any worse for Obama than it was for Bush?