Ooops! Obama's approval rating down to 57%
The aura of invincibility is still there but it has certainly been tarnished. People are starting to ask questions about cap and trade, healthcare, and the stim bill's ineffectiveness.
These questions have affected the president's approval ratings, down to 57% according to CBS News:
The president's current approval rating, which is 57 percent, is still relatively high. But it has fallen 11 points from its peak of 68 percent in April, and has also dropped since last month's mark of 63 percent. His disapproval rating, meanwhile, has risen from 23 percent in April to 32 percent today.
The decline in support is coming not from Republicans - whose support for the president has actually risen - but from Democrats and independents. While 82 percent of Democrats still approve of the job Mr. Obama is doing, this number is down ten points from last month.
The president's support among independents has fallen eight points to 50 percent. Only 30 percent of Republicans back Mr. Obama, though that's up from 23 percent in June.
The driving issue behind the president's decline in approval appears to be the economy. His approval rating on handling the economy is now 48 percent, while 44 percent disapprove. Last month, Americans approved of his handling of this issue by a margin of 22 points.
The optimism over the economy seen in May - when 32 percent said it was getting better and 23 percent said it was getting worse - has dissipated. Now just 21 percent say the economy is improving, while 33 percent say it is getting worse. Forty-five percent say it is staying the same.
People are beginning to wonder why we need a cap and tax bill and even health care legislation when the economy is in the tank. They worry about their jobs while the president goes about the task of "transforming America." They would much rather he concentrate on fixing the economy than in passing his pet liberal schemes in Congress.
Many analysts believe that the tipping point for Obama will come when the unemployment rate passes 10%. Democrats are looking very anxiously at that figure and it is effecting their support for Obama's health insurance scheme. More moderate members of the caucus are less likely to march in lockstep with the leadership since they come from more competitive districts.
Once it starts to unravel for Obama, it will not be a pretty sight.