The darkening economic cloud has sent President Barack
Obama’s job performance ratings plummeting to just 47 percent — just 1 point
higher than his lowest ever mark — according to a new Washington Post-ABC News

his economic approval ratings are his worst since September, when he stood at 41
percent approval and 57 percent overall disapproval.

In the event that
the White House didn’t receive the message, Wall Street drove the point home on
Monday when benchmark rater Standard & Poor’s cut its long-term outlook on
U.S. debt to a dismal negative rating, signaling a financial crisis if the Obama
administration does not bring down the national debt.

Today’s poll shows
that Americans agree with the S & P verdict. In a tie with his overall worst
economic approval rating, 57 percent said they disapprove of how Obama is
handling the economy, with 46 percent saying they strongly disapprove. Only 23
percent strongly approved.

On the heels of the gloomy economic news, GOP
leaders renewed calls for more drastic cuts in federal spending saying raising
the roof on debt should be contingent on those cuts.

Eric Cantor

Republican Rep. Eric
Cantor, majority leader of the House, said Republicans would not sign off on any
debt-limit increase without serious reforms, according to The Hill.

decades, Washington has blindly increased the debt-ceiling limit while doing
little to stop spending money that it doesn’t have, a dangerous pattern that
must end,” Cantor said. “As S&P made clear, getting spending and our deficit
under control can no longer be put off for another day.”

In a statement,
Rep. Paul Ryan — whose own plan promised to slash $6 trillion over a 10-year
period — said that Obama’s current spending spree “threatens not only the lives
of future generations, but also the economic security of American families

For his part, Obama’s plan calls for raising income taxes and a
repeal of the “Bush tax cuts” he originally agreed to continue on Dec.

Obama’s poll numbers could doom his 2012 prospects: A Newsmax poll
placed Donald Trump far ahead in a matchup with Obama — 68 percent would vote
for Trump, 13 percent for Obama, and 13 percent for another

The independent vote, which Obama relied on heavily in his
2008 bid, remains dubious for 2012 after showing overwhelmingly in Republicans’
court last year. The Washington Post-ABC poll pits independents squarely against
Obama — 55 percent disapproved of the job he is doing.© Newsmax. All rights reserved.

Economic Crisis Batters Obama, Could Doom Re-election

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