Depending on how you view it, of course. According to a recent American Research Group poll, President Bush has only a 19 percent approval rate. That drops to 18% when you only include voters, and only 14% approve specifically of his handling of the economy.
As Attytood explains, this leaves Bush the least popular president ever. The previous low (I don't know actually how far back these polls go) was Harry Truman at 22% in 1952.
And yet, he's still not gonna be impeached and the Democrats in Congress will probably continue to roll over to any demand he makes anyways....