Gallup reported Thursday that President Obama’s job approval on the economy has fallen seven points since June, to the second lowest level of his presidency. And internal poll results show that the fall in Obama’s economic approval numbers have been driven mostly by Democrats.
Asked June 1-4, if they approved of Obama’s job handling the economy, 42 percent of Americans said they did. But by August 7-11, just 35 percent of Americans said the approved of Obama’s handling of the economy. That 35 percent approval rating matches Obama’s low winter 2010 economic approval rating, and only Obama’s pre-2012 Democratic convention number (26 percent approval) was any lower.
Contacted by the Washington Examiner for a partisan breakdown of Obama’s approval rating on the economy, Gallup data shows that it is Democratic disappointment in Obama that is driving his economic decline.
In June, 76 percent of Democrats said they approved of Obama’s handling of the economy, compared to just 63 percent in August. That 13-point drop in approval is almost double Obama’s 7-point drop among independents (from 36 percent to 29 percent), and more than six times greater than the two-point approval drop among Republicans (from 11 percent to 9 percent).
The reverse phenomenon was largely responsible for a boost in economic confidence after the Democratic Convention in 2012.
According to Gallup, Democrats confidence in the U.S. economy increased four-fold in the weeks after their party’s convention, while Republican confidence in the economy was unchanged.
Then, after the election, Democratic perceptions of the economy fell back to Earth.