The following three issues are the sort of bad, muted problems now that could cost him reelection four years from now, if and when it becomes a large enough problem that people find out:
1. Going all Bush on us when it comes to the power grab that Bush orchestrated and Obama is pursuing. This goes for the Obama admin's claims that it has the very same imperial powers that Bush claimed on matters of wiretapping or torture (even if Obama has stopped it in Guatanimo, they haven't said that the administration couldn't do it).
2. Following Geithner, Bush and Summers part 1: Obama's taking the plunge into the abyss by continuing this expensive and ineffective way of 'fixing' the banking industry, buying toxic assets at prices they aren't worth -- and now essentially guaranteeing through FDIC that if they aren't profitable to private investors, that the federal government will make it all better.
3. Part 2: here's what could really kill - the fact that Obama's going out of his way, through Geithner and Summers, to get banks involved by allowing them to avoid the limits on executive funds - creating middle men so the Government doesn't have to dole funds directly. If people find out that execs in Bank of America or Citi gave out bonuses or continue with lavish salaries despite new Congressional regulations for companies accepting federal assistance, Obama's now-fantastic approval rating could fall below Congress's.
I list these things not because they have to happen, but they will if Obama doesn't change course now. They won't hurt him today or tomorrow, but four years from now? It's just a matter of time. If he undoes these three policies, he very well could be the next FDR or JFK, but if he doesn't, he'll only earn the country's wrath. We can't continue to follow the old and ineffective ways of the past -- especially not when we elected a "change" President. Change. Now.