He is getting dangerously close to this.
In a way, he's already past that. Obama's strong disapprovals are greater than those of Bush. The only thing that is keeping Obama out of Carteresque levels is the "true believer" core that today was about 19 percent (compared to 13 percent for Bush in January 2009.)
Don't expect the strong approval to decline much more, but you can definitely see the strong disapproval to climb further. In that regard, if we took a -30 of Bush versus one of Obama, the one for Obama would actually be WORSE.
IOW, at this rate, the total approval rating can't be much above the mid-30's. He's looking at losing next year, and losing HUGE. This is also another reason why there will be no serious Dem primary challenge. Nobody wants to step into that pile of crap and say that they're going to do more of the last four years.