Nile Gardner of the Telegraph pretty much sums up why President Obama’s approval ratings have reached terminal velocity and will continue to plunge until they likely surpass President Bush’s approval rating lows of 22%. Obama is currently at 44%, a significant number considering his popularity at the time he was elected and the fact that he’s been in office for just 18 months.

Here are 10 reasons for why the American people are losing faith in the President:

1. The Obama presidency is out of touch with the American people
2. Most Americans don’t have confidence in the president’s leadership
3. Obama fails to inspire
4. The United States is drowning in debt
5. Obama’s Big Government message is falling flat
6. Obama’s support for socialised health care is a huge political mistake
7. Obama’s handling of the Gulf oil spill has been weak-kneed and indecisive
8. US foreign policy is an embarrassing mess under the Obama administration
9. President Obama is muddled and confused on national security
10. Obama doesn’t believe in American greatness

…

There is a distinctly Titanic-like feel to the Obama presidency and it’s not hard to see why. The most left-wing president in modern American history has tried to force a highly interventionist, government-driven agenda that runs counter to the principles of free enterprise, individual freedom, and limited government that have made the United States the greatest power in the world, and the freest nation on earth.

This, combined with weak leadership both at home and abroad against the backdrop of tremendous economic uncertainty in an increasingly dangerous world, has contributed to a spectacular political collapse for a president once thought to be invincible.

source: The above points have been summarized from Nile Gardiner’s The stunning decline of Barack Obama: 10 key reasons why the Obama presidency is in meltdown and can be read in full at the Telegraph.

What is particularly amazing is that 44% of Americans still have hope that Obama will change America for the better. Perhaps some of these people are holding out for real change and refuse to face the fact that the President is failing at his job. Eventually, most of them will see the light as well. Once they’ve lost their job or their home, many will realize that big government policies from President Obama, touted as stimulus and bailouts for the middle class, were nothing more than pandering to unions and corporate lobbyists.

Rather than creating sustainable jobs, innovation and market prices, Obama initiatives that include but are not limited to the jobs bill, health care, finance reform, and increased taxes will actually hurt Americans more than they will help.

We suspect that many of the 44 out of 100 Americans who still approve of President Obama are doing so only to save face. They campaigned for him, they cried for him, they fainted for him. The last thing they want to do is remove their Obama/Biden bumper sticker.

In time, we may very well see Rip the Sticker parties go viral across the nation.

For those who are ready to take the plunge, you’re not alone. We recommend the BS Removal Kit:

No American, in their right mind, could say with a straight face that the President understands and supports the Constitutional values that have made this country great. And eventually, this will become apparent for all liberty loving Americans, and only the die-hard left-wing socialists and green party communists will vote in approval of the job he’s done. If we had to guess, the President’s current and planned policies will further erode the economy and polarize America going forward. We would expect Obama’s approval ratings to be even lower than those of President Bush by 2012.