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Survey: Economic Pessism On The Rise As Obama’s Approval Declines

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File photo of President Barack Obama. (credit: JIM WATSON/AFP/Getty Images)

File photo of President Barack Obama. (credit: JIM WATSON/AFP/Getty Images)

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WASHINGTON (CBSDC) - President Barack Obama’s approval rating and pessimism surrounding the U.S. economy are heading in opposite directions.

A recent survey from the Pew Research Center found that the dip in the president’s approval rating comes at a time when 40 percent of Americans believe the economy will take a long time to recover.

Since December, Obama’s approval rating has dropped eight percentage points, going from 55 percent to 47 percent. The 47-percent mark is comparable to the approval rating of his predecessor, former President George W. Bush, early on in his second term.

The survey, which was conducted earlier this month among 1,501 adults, also captured the economic landscape that the president continues to face in his second term. According to the research, 27 percent of Americans believe the economy is in the process of recovering, compared to 40 percent that it could take a while before the economic struggles begin to turn around.

Looking ahead to a year from now, just 25 percent of Americans think economic conditions will improve, while 32 percent believe that the economy will worsen over the next year.

Still, Obama is trusted more to go after the economy than his GOP counterparts. The survey found that 53 percent of Americans show fair confidence in the president to handle the budget, compared to the 39 percent that shows the same level of confidence in Republican leaders.

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