President 2012 Poll Watch: 26% Approve of Obama’s Handling of the Economy = A New Low

According to the latest Gallup Poll.

A new low of 26% of Americans approve of President Barack Obama’s handling of the economy, down 11 percentage points since Gallup last measured it in mid-May and well below his previous low of 35% in November 2010.

Obama earns similarly low approval for his handling of the federal budget deficit (24%) and creating jobs (29%).

Obama’s job approval numbers are down across the board except on terrorism.

The chart:

So, what does this mean?

It looks like President Obama will have to accelerate his campaign to persuade Americans he is competent because every day he is sinking in some poll.

President Obama’s approval rating has dwindled in recent weeks to the point that it is barely hugging the 40% line. Three months earlier, it approached or exceeded 50%. History will remember this period for the messy political debate in Washington over the debt ceiling, followed by distress on Wall Street and tragedy in Afghanistan. How much each of these factors is responsible for the overall decline in Obama’s approval rating is unclear. But Americans’ unhappiness with each of them is reflected in recent declines in Obama’s specific job ratings for the economy, the federal budget deficit, and various foreign policy measures, as well as in his markedly low rating for creating jobs.