There is an interesting piece in the Wall Street Journal by Arthur Brooks on why Obama is struggling. The whole thing is a great read, but here is the key passage:

Despite the vote in November, it is clear that when Americans are not in an abject panic, we dislike government fiscal promiscuity. The president’s sinking approval ratings are due precisely to his administration’s free-spending ways. In a July 2009 Gallup poll, the No. 1 reason for disapproval of the president’s economic policies was, literally, “spending too much.” In second place was the worry that the president is “leading the nation toward socialism” through government takeovers and bailouts.

What exactly is our problem with government spending? It is not just that we think it is wasteful and ineffective (although most recognize this to be true). Americans actually think the government makes it harder for people to get ahead in life.

In January 2009, the Pew Research Center asked about 2,000 Americans, “Do you think the government does more to help or more to hurt people trying to move up the economic ladder?” Amid the most frightening economic crisis in decades, more Americans still said the government would hurt than the number who thought it would help (50% versus 39%). Independent surveys from roughly the same period found that only one in five Americans believed he or she could trust the government.