It's pretty easy to understand why conservatives are frustrated:
1. The President has at least three serious scandals: Solyndra (corruption and cronyism); Fast and Furious (gun-walking to Mexican drug cartels); and now Benghazi-gate (murdered diplomats and abject security failures). Two of the scandals involve ACTUAL DEAD PEOPLE!
2. Each scandal exposes an absolute failure of liberal idealism. Green energy (Solyndra) is a joke. Gun control (Fast and Furious) is so much of a fetish that liberals are willing to facilitate mass murder to advance their agenda. The "Arab Spring"/Facebook Revolution in majority Muslim countries in the Middle East has turned (predictably, if your conservative) to dominance by radical Islamists, terrorism, and anti-Americanism, resulting in the murder of Chris Stevens in Benghazi. This is what happens when you put men and women with a teenager's view of the world in charge.
3. Each scandal has also been the subject of intense coverups by the Obama Administration, with demonstrated lies (Benghazi-gate) and specious assertions of executive privilege.
4. Yet the mainstream media, which ought to be salivating at the prospect of winning Emmy Awards and Pulitzer Prizes for investigative reporting, appears to be nearly uninterested in the scandals, and instead obsesses over polls and horse races and "narratives."
5. Similarly, the economy increasingly looks like it will be entering a new recession beginning in 1Q 2013, while the ability to indulge in more Keynsian stimulus is thoroughly discredited and probably impossible given the country's $16 trillion in debt. The entitlement crisis looms. What is the President's plan? The Buffett Rule? Come on. He has no plan.
6. Yet, again, the mainstream media is willfully manipulating the news through skewed polling and stories about Romney's supposed "gaffes."
7. If a Republican President had played a hundred rounds of golf and gone on The View and Letterman while skipping his daily intelligence briefings and being unable to find time to meet with Benjamin Netanyahu, all the while the world appears to be falling into chaos, this election would be over.
8. If a Republican President partied with millionaires in Hollywood and Manhattan and vacationed on the taxpayer's tab in the poshest locales, all the while the American economy looks to be imploding, this election would be over.
But it's not. That's why Republicans are frustrated with both the mainstream media and the American people, who appear to be falling for the propaganda like rubes falling for a con man's grift.