Great news for Obama and the economy from a new ABC/WaPo poll:50 per cent of Americans in this new ABC News/Washington Post poll approve of Obama’s job performance, the most since spring. 50 per cent say he deserves re-election, better than Bill Clinton at the start of his re-election year and as good as George W. Bush a month before he won a second term. And Obama now leads Romney among registered voters by a slight 51-45 per cent, the first time either has cracked 50 per cent in a series of matchups since spring.
Two chief factors are at play. One is the economy’s gradual but unmistakable improvement, marked by the newly reported January unemployment rate of 8.3 per cent, the lowest since a month after Obama took office. The president’s approval rating on handling the economy, while just 44 per cent, is its best in 13 months.
Right now there’s clearly a positive cycle of developments for Obama, between the economic news and the stock market, and they’re combining to produce good vibes for him right now.
But as we pointed out on Friday, since Obama’s approval is so closely tied to the market, there’s a pretty big opportunity for the market to torpedo him before November.
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