B-. He did a lot of stuff I like in the beginning, but it seems like he's lost a lot of political capital and has had to bend & break too much on his promises over the last year. He hasn't done enough to steer the national political dialogue, and is therefore essentially letting the far-right wing dictate the issues.
I think that Obama's biggest problem is that in reality he is very pragmatic. Contrary to some of the vitriol out there, he's really a barely-left-of-center politician and prefers to compromise on issues in order to get things done rather than stick to unrealistic ideals. Unfortunately, the political atmosphere of the US really seems to be dictated by the extremes and Obama just isn't "extreme" enough to resonate with his base and dominate the dialogue and thus seems to be coming off as weak recently.