Two years into his presidency, George Bush receives high marks for his managing of foreign policy but poor grades on his handling of domestic problems from a public ambivalent about war and increasingly concerned about America's ability to compete economically, a new Los Angeles Times Poll found.

As he enters what may be the defining hours of his political career, Bush remains extremely popular: 67% of those surveyed generally approved of Bush's performance as President, and just 27% disapproved. No President since John F. Kennedy has scored so high halfway through his first term.

Although broad, the public's approval of Bush, as measured on a report-card scale, remains qualified: His best mark, a B, comes on foreign affairs, and most of those surveyed rate his performance on the entire array of domestic concerns--from the economy to education to the environment--worthy of no higher grade than C.

For Bush, perhaps the poll's best news is that, only a few years after he was derided as an ineffectual wimp, the public by a ratio of more than 2 to 1 now finds in him the resolute personal qualities most desired in a President: strong leadership, deep convictions and sound judgment in a crisis. Even a majority of Democrats and liberals see in Bush a strong leader with good judgment.

Perhaps the most ominous finding for the President is the widespread sense that he has shown little leadership on domestic affairs. Just 12% of Americans see any improvement in the educational system during his tenure, less than 30% perceive progress in the war against drugs and an overwhelming 72% believe that America has economically "lost ground to foreign competition" over the last two years.

Only one in eight of those polled said Bush has improved the availability of health care, and only about one in ten believes he has expanded economic opportunity for the poor. Over two-thirds of those surveyed said Bush has not redeemed his promise to make America a "kinder, gentler nation." Just 51% said they believed Bush has "the vision to handle the country's problems through the 1990s."

In an abstract question with no potential opponent named, only 47% of Americans said Bush deserves to be reelected in 1992. Another 40%--including one-fifth of those who voted for him in 1988--say he should not be given another term.

The complex portrait drawn by these figures nevertheless heartens Republicans, who maintain that a President with such a high overall approval rating almost certainly would win reelection.