So far Obama's approval ratings in Gallup are better than St. Ronnie's (who fell to 35% in 1/83)

[WI_DEM]

By the end of 1981, Reagan's job approval rating had drifted down to 49%.

Things got worse for Reagan in 1982. The public's view of the economy remained sour, and the president's ratings during 1982 stayed concomitantly low, in the 40% range, ending the year at 41%. The 1982 midterm elections were not good ones for Reagan and for the GOP. The Republicans lost about 25 seats in the House.

Indeed, although 1983 began for Reagan with a 35% job approval rating -- the worst of his administration -- things started to look better.

http://www.gallup.com/poll/11887/ronald-reagan-from-peoples-perspective-gallup-poll-review.aspx

People who so readily write-off Obama as a one-term president, lack historical perspective.