Obama still has time till the general election. He needs to take charge with greater campaigning measures if he wants to win the reelection. Obama is currently dropping in the polls mainly because of his central policy--jobs. According to Gallup polls, Obama's jobs approval rating is at 42% with 51% of people disapproving. Also according to Gallup, his job approval rating is remaining pretty consistent with approval rating staying low.
I believe that at this current time, it is difficult to say whether Obama will win the bid for reelection. This completely depends on Obama's jobs bill which has yet to be signed by Congress till next year. If the bill gets signed, Obama may have a chance to win back voters.
To figure out this question on whether Obama will win the reelection bid, I took a look at Gallup's comparison of approval ratings for previous presidents. Around this time, most presidents have had pretty low approval ratings. Many presidents were able to increase their approval ratings by the election time in Novemeber. Obama may still have a chance to bring up his approval ratings, but he needs to do greater campaigning for this election because most Americans are tired of Obama's lack of "change" and in turn, they would rather vote for a lesser Republican candidate.
Right now, I think the election could go either way. Obama has a chance to take back voters, but with greater emphasis on the GOP debates, Obama has been pushed out of the limelight. People have become more interested in Newt Gingrich and Mitt Romney. After a Republican nomination has been handed over, the campaigning can begin. At that point, we can take a look at whether Obama has a chance to win.
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