Chances are President Obama’s job approval rating will not stay at 40% (likely to improve once the debt ceiling is raised). That said, if Obama’s numbers don’t improve the GOP could very likely take the White House in 2012. See, Nate Silver’s analysis of presidential approval ratings and re-election odds.
President Obama’s job approval rating is at a new low, averaging 40% in July 26-28 Gallup Daily tracking. His prior low rating of 41% occurred several times, the last of which was in April. As recently as June 7, Obama had 50% job approval.
The inability of U.S. lawmakers to agree on the debt ceiling has apparently shaken Americans’ confidence in the economy and now seems to be taking its toll on the president’s public support, with Obama’s approval rating at a new low. As the debt ceiling talks drag on, his ratings, as well as those of Congress (last measured atÂ 18% in early July), could decline further.