I think you prove a good point that their is an irrational emotional connection to Obama despite dissonance with the facts on the ground. There are diehard Obama believers who completely believe he is the liberal savior of the Church of Obama.
This is similar to the christian conservatives and evangelicals who completely support George W Bush. Not because of what he has done, but because who the person is as a born-again pro-life Christian Evangelical.
Obama has successfully created a cult of personality similar to celebrities who can do no wrong. He has not had great successes but has not had any major scandals, and he is primarily coasting on an emotional win and emotional message from 2008.
The Obama believers have a honeymoon afterglow and they see him as a smart, attractive man who can do no wrong. I would say that they are actually 100% in love with Obama as a person.
Now, the cult of celebrity is a strong an powerful force that has guided presidents and politicians forever. Even in a bad economy and high unemployment, Obama is beloved.
This will be a major issue with the Romney campaign. Will Romney end up looking like fellow mass-hole John Kerry or will Romney be able to create his own cult of personality and become emotionally beloved by voters. Romney needs to create his own celebrity personality in order to establish an emotional connection with voters.