Open Mic and Obama Flexibility

Barack Obama stepped in it recently when an open mic caught him saying the following to outgoing Russian President Dimitri Medvedev:

President Obama: “On all these issues, but particularly missile defense, this, this can be solved but it’s important for him to give me space.”

President Medvedev: “Yeah, I understand. I understand your message about space. Space for you…”

President Obama: “This is my last election. After my election I have more flexibility.”

President Medvedev: “I understand. I will transmit this information to Vladimir."

Does this end up causing a problem for President Obama and his reelection chances?