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Its impossible to say at this point in time because (in my opinion) what will determine whether he wins or not is still unknown.

First off is the state of the economy and job market in 2012. It is unrealistic to expect the economy to return to boom times or full employment by 2012, but if there isn’t significant improvement Obama will be in trouble. Secondly, there is his opponent. George W. Bush would have probably lost the election in 2000 or 2004 had he ran against credible candidates; and the right candidate could easily beat Obama in 2012. Finally, I would say what Obama does over the next 2 years will be critical; if he continues to push an agenda that most voters oppose he will need a miracle to win the next election.