On topic: I don't follow US politics that closely, but from what I've read, I'm quite disappointed by Obama's pandering to the military-industrial complex and Wall Street. On the plus side, his stimulus package did a lot of good, and his healthcare plan would have too if it had not been watered down by conservatives. He also ended "don't ask, don't tell" and disposed of Bin Laden.
But other than that? He has pretty much ignored the Occupy movement, as well as the police brutality directed against the protesters. War and white collar criminals got away scot-free, and the latter paid themselves record bonuses from taxpayer money (to be fair, the Wall St. bailout was signed by Bush, but I would have expected to see a criminal investigation of the bankers who gambled away the US economy). Obama's crackdown on medical marijuana was a huge disappointment too, and I haven't seen much in terms of environmental / energy policy. He also failed to step up in support of marriage equality. To top things off, he uses a lot more religious language than I would expect to hear from a Democrat.
From where I'm sitting, the two party system of the USA now consists of a moderately religious right wing party, formerly known as Democrats, and an ultra-right, hyper-religious fascist party. There is no left wing and no center anymore, and there doesn't seem to be any politician who is not bought and paid for by America's corporate overlords (well, what do you expect when bribery in politics is completely legal). And yet Obama is still the best and only option for the next election, simply because his Republican opponents in the 2012 race are complete and utter nutcases. If the American public wasn't so divided by rigid political (and religious) ideologies, I'd say your best option is to bring out the guillotines, clean house and start over.
PS: Again, I don't follow US politics that closely. I apologize if I misrepresented or misunderstood any of the above issues.