PPP: Today Obama Would Lose

Dean Debnam, President of Public Policy Polling, a normally Democratic-leaning polling organization, analyzes their July poll looking toward the 2012 presidential race:

There’s a very good chance Barack Obama would lose if he had to stand for reelection today, This is his worst poll standing in a long time and he really needs the economy to start turning around.

PPP also says the following:

Obama's numbers are worse than they appear to be on the surface. (snip) If you allocate the undecides (sic) based on their approval/disapprove of Obama, Romney would lead 52-48.

Hot dang, when O's friends are saying these things he knows he's in trouble.