The mounting criticism is fuelling speculation that Mr Ahmadinejad is politically doomed. Observers have even suggested he might be impeached and removed from office.
"Ahmadinejad's golden era is over and his honeymoon with the supreme leader is finished. He has problems even meeting the supreme leader," said an Iranian political commentator, Eesa Saharkhiz. "The countdown to his dismissal has already begun. There is a probability that he cannot even finish his current four-year period."
Signs of Mr Ahmadinejad's declining stock have emerged less than a month after a crushing defeat in local authority elections, when only a fifth of his supporters won seats. His most powerful political rival, Hashemi Rafsanjani, also topped the poll in elections to the expert's assembly, a body empowered to appoint and supervise the supreme leader. Mr Rafsanjani has been a vocal critic of the president's strident anti-western rhetoric and has urged compromise on the nuclear issue.
Pragmatists within the Islamic leadership claim that Mr Ahmadinejad's inflammatory rhetoric, including a declaration that Iran would not suspend uranium enrichment for "even one day", sank any chance of a deal.
Two recent newspaper articles suggested that this is now the official view.
Jomhouri Islami, which has previously carried unsigned articles by the ayatollah, accused Mr Ahmadinejad of endangering public support for the nuclear programme by hijacking it as a personal cause to disguise his government's economic failings.
"Turning the nuclear issue into a propaganda slogan gives the impression that you, to cover up flaws in the government, are exaggerating its importance. If people get the impression that the government is exaggerating the nuclear case to divert attention from their demands, you will cause this national issue to lose public support," the newspaper wrote.
The newspaper, Hamshari, whose director, Hossein Entezami, is a member of Iran's nuclear negotiating team, was more blunt: "At the very moment when the nuclear issue was about to move away from the UN security council, the fiery speeches of the president have resulted in the adoption of two resolutions [against Iran]."
"Jomhouri Islami is the affirming voice of Iran's political system and of the wishes of the supreme leader and high-ranking officials, so its criticism of Ahmadinejad's political behaviour smacks of a serious reminder to him," said Mohammad Atrianfar, director of the recently banned reformist newspaper Shargh.
An uncharacteristically subdued response by the president to last Thursday's seizure by US forces of five Iranian citizens in Iraq - described by the Tehran government as "diplomats" - is being seen as a sign that warnings are being heeded.
But Iran's deepening economic woes, which prompted Sunday's letter from MPs, suggest that the worst may have yet to come for a man elected on promises to raise living standards and distribute the nation's oil wealth more evenly.
Those pledges jar with increasingly grim realities. Inflation is higher than when Mr Ahmadinejad took office 17 months ago, while unemployment, officially estimated at 12% but probably much higher, has not improved.
Uncontrolled inflation has resulted in soaring food prices and has had a drastic effect on the housing market. Anecdotal evidence suggests house prices and rents in Tehran have risen 50% in six months.
In a poignant development, the government plans to ration petrol to cut rising import costs incurred by Iran's lack of refinery capacity. The proposal gives an ironic twist to Mr Ahmadinejad's election promise to put the country's oil wealth "on people's tables".
The president's growing army of opponents blame the situation on the government's chaotic approach. The failure to deliver a budget bill on time is being attributed to Mr Ahmadinejad's decision to disband the management and planning organisation, a government agency responsible for setting spending priorities but which upset the president by opposing some of his costlier proposals.
Critics believe the economic situation is urgent and that Mr Ahmadinejad's place is at home and not in Latin America.
One hundred and fifty of Iran's 290 MPs signed the letter condemning President Mahmoud Ahmadinejad's economic policies. Government figures put the inflation rate at 10-15%. Anecdotal experience suggests that the figure is higher. More than 17 million Iranians voted for the president in his election victory over Hashemi Rafsanjani in June 2005. However, the country's supreme leader - the most powerful figure in its theocratic system - is chosen by clerics. The supreme leader has the final say on foreign affairs, military matters and a range of other areas. Mr Ahmadinejad's four-day tour of Latin America took him to Venezuela, to meet President Hugo Ch?vez, to Nicaragua, where he met President Daniel Ortega, and to Ecuador, where he attended President Rafael Correa's inauguration. All three men share the Iranian president's hostility to Washington and President George Bush.
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