Economy puts Obama in a bind

First let me say that President Barack Obama is not to blame for the current economic mess. He did not cause the recession, he only inherited it. But like all presidents, he must deal with a situation he didn't create. How he responds will have a long-lasting influence on the rest of his presidency.

Obama, with the help of allies on Capitol Hill, passed a major economic stimulus plan in the early days of his administration. So the president now wants to focus on his ambitious agenda.

One "little" problem: Since taking office in January, 3.4 million jobs have disappeared, and the unemployment rate looks like it will pierce 10%. See Thoughts on the unemployment report. Consequently, the public may be getting a little impatient for an economic turnaround, and the way politics works - the guy at the top usually gets the blame.

Polls, polls and more polls

The daily presidential tracking poll from Rasmussen now puts Obama's presidential approval at -2, 33% strongly approving and 35% strongly disapproving, the worst in his short presidency (when he took office, Rasmussen recorded a +28). And his total approval stands at 53%, tying the lowest reading.

Zogby doesn't give the young president much in the way of encouragement either, with just 51% of likely voters giving him a thumbs-up in a survey taken in mid-June.

But things are a little better over at the Gallup organization, as surveys from the respected pollster put Obama'a approval rating at 60%.

Nonetheless, Democratic party leaders have to be watching the polling numbers closely.

The majority party could get a little lucky and find itself enjoying the fruits of a V-shaped recovery.

But if the unemployment rate reaches 10% and continues its upward march, the economic whammy engulfing the nation could hit Capitol Hill like a tsunami come next November.