This is what tens of billions of dollars in taxpayer money bought Obama.

(NRO) — President Barack Obama’s approval ratings among Michigan residents have dropped to their lowest point since his election, according a State of the State Survey conducted between late October and December 2010.

About 32 percent of residents polled rated his performance as “excellent” or “good,” according to the survey.

“When he first came to office, his ratings were sky high,” said Charles Ballard, survey director and MSU economics professor. “In fact, I think there was such a euphoria upon his taking office it was unlikely for those ratings to stay the same.”