namely, people fell for eight years of Bush...until the economy crashed.

From what I've noticed from people on the streets of my own city and on the blogs, people had way too much hope on Obama that he could solve EVERYTHING including cancer just by touching it. Again, the messiah complex.  

No, not the messiah complex...human nature.

When things are going badly ,people reach out to  anyone or anything that appears to be able to provide them comfort..and dare I say it, hope. That could be booze, religion, a charismatic figure or a bombastic talk show host.

The mechanism is the same for Obama and Rush Limbaugh. Obama gives people hope by doing, Limbaugh by blaming. Nothing new about that. When Obama doesn't do what you think is important then you get discouraged. Nothing new about that either.

Every administration ratings I can remember, and that's quite a few,  went down after the first 6 months or so in office. There are only two choices for President... neither candidate can be all things to all people.

In that regard Obama is picking his battles wisely I think. Hit the big ticket items first while he has significant majorities in both houses of Congress and 50+ polling numbers

Then the "B" list probably after the midterms when statistically he can expect to lose some seats.

His approach to security is wise as well. Going in and scraping existing programs with a machete is not a good idea.

I don't think many people realize how close Reagan came to being a one term president. The recession hung on to well into his third year in office.

Rating On Reagan Lags At Midterm - Gallup Poll Says Public Finds Job Performance Is Poorer Than 4 Predecessors - The New York Times  July 1983

 Also making gaffs like this didn't help:

"I don't know of any authoritative figures that there are hungry children. I've heard a lot of anecdotal stuff, but I haven't heard any authoritative figures...I think some people are going to soup kitchens voluntarily. I know we've had considerable information that people go to soup kitchens because the food is free and that that's easier than paying for it...I think that they have money."

 But the economy took an up turn in late 83 early 84 and the rest is history.

So relax.