There are issues out there that I believe could siphon off a good many Hispanic voters from obama. They may not turn out to vote Republican but instead may just decide to sit this one out. One of them is the several hundred dead in Mexico due to operation Fast and Furious. This could be huge if the Republican candidate decides to make an issue of it. How could obama explain or even defend in any way polices engaged in by his ATF, policies that they knew with a certainty would lead to the deaths of Mexican citizens and with the number of guns involved they had to have known it would be a large number of dead. This is slowly heating up in Congress and as it slowly builds and mostly especially if AG holder is held in contempt of Congress as has been threatened by Congressman Issa. It is becoming more likely that it will receive greater attention in mainstream media outlets which have largely ignored the story.
Another issue which I believe may grow into a problem with a good many Hispanics is the still developing fight between the Catholic Church and the obama administration. Hispanics are largely Catholic and are the fastest growing segment of the American population. Religion may not be an overriding concern of many of the American electorate but Hispanics tend to support the Church at a higher % than the overall population.
Then there is the issue of illegal aliens, with obama claiming to have deported more than any other administration it too could become an issue to be used to drain support from obama in November. Obama won with just a little over 53 % of the popular vote in a year with a high turn out and a bad year for Republicans across the board after 8 years of Bush who had become increasingly unpopular the last 2 years of his 8 years in office. Its a question of numbers and Republicans need not win their vote to win, just convince a few % to stay home. It seems the issues are there if the Republicans make use of them.