Overall, 47% of voters say they at least somewhat approve of the President's performance. That’s the lowest level of total approval yet recorded. The President’s ratings first fell below 50% just a few weeks ago on July 25. Fifty-two percent (52%) now disapprove.
For comparison, note that Rasmussen's "somewhat approve" percentage for George W. Bush was 35% when he left office. This is a difference of only 12%, not a long way to fall in the next 3+ years.
One of the downsides of living a long time is remembering that all of this has happened before. LBJ didn't run for reelection, Nixon resigned because of Watergate, and neither Ford nor Carter could be reelected. The pundit class speculated on "the decline of the Presidency." Then Reagan restored the luster of the office.Now we have a new down cycle: Bush 41 wasn't reelected, Clinton was impeached and seemingly lied under oath, unpopular Bush 43 left office as a recession set in, and now Obama's popularity ratings are predictably nosediving.
Who will restore the power of the presidency this time? Will we elect that person in 2012 or have to wait until 2016 or beyond? Stay tuned.