Why is Obama's approval waning?

President Barack Obama's Presidential Approval Index, as tracked by RasmussenReports.com shows him back at his lowest rating, +2.

I wonder why the number is so low. He allowed the Navy to do its job with the pirates, and there was a successful outcome off the Somalian coast. There are signs the economy is doing better. Retail sales might have slipped some, but people are saving more, too.

Obama has been wading in the single digits since March 7, 2009 (see trend here), only once climbing into double digits since then (+11 on March 31, 2009). He started out strong, with a +28 the day after his inauguration, and he climbed to his highest rating on Jan. 22, 2009 (+30).

However, it has been mostly all down hill since then. Could Tax Day or the TEA Parties have something to do with it? Perhaps.

But, there also could be a lingering feeling among Americans that all of this spending by government will catch up with us soon. Rasmussen polls show most Americans think those earning less than $250,000 will be taxed more, despite President Obama's promises on the campaign trail not to tax those earning less than $250,000.

We'll see if he can recover. After all, he's not even been on the job 100 days yet.