A news item of the afternoon was House Speaker Boehner ruling out impeaching in the foreseeable future.
There are two major problems in my mind with impeaching the president at this point in time
(1) What we currently have in the form of hard evidence against Barack Obama at this point in time are largely policy disagreements rather than criminal acts that would mesh with the "high crimes and misdemeanors" envisioned in the Constitution. Going to court is a more effective way to deal with an administration misapplying the law than impeachment; that worked in the recess appointment case and the overly creative reading of "Obamacare" law is being called out by the courts, starting with the Hobby Lobby case and with a case on subsidies on federal exchanges soon to hit the Supremes' desks.
There might be some presidential encouragement of actual criminal acts, like the harassment of political foes by the IRS and a seeming cover-up of said activity. However, a wall of silence and shredded hard drives have left us with little evidence of presidential misdeeds; all that's available at present is assuming the worse of our foes.
(2) For impeachment to be effective, you have to have the votes in the Senate to vote Obama out of office; impeachment proper merely needs a majority of a Republican-controlled House, but that doesn't send a president packing. Removal requires a two-thirds majority of the Senate, which would require significant Democratic support. Even if the Republicans gain a majority of the Senate after November's election, it will be a modest majority in the low 50s, thus requiring about 15 or so Democrats to get to a 67 vote 2/3rd conviction bar if everyone's voting.
It will take more than Obama being in "I am the law" mode to get those Democrats to bail on him. You'd be very lucky to get a mere majority right now, let alone two-thirds, when the legal free-lancing of the Obama team isn't going to get the ire of Democrats who would agree with him on most of those issues and aren't about to get rid of one of their own in what would amount to turning impeachment into a parliamentary-style vote of no confidence.
Thus, conservatives really wanting to get ride of Obama might have to resort to shutting down the US government, so that King Barry has nothing to rule over. I don't think that's quite worth it... at least not yet.