Bob Schieffer: Economy Still Hurts Obama in Polls

CBS News Chief Washington Correspondent Bob Schieffer was on CBS News' The Early Show this morning to discuss President Obama's waning polling numbers.

"Well, I think it all goes back to this economy," Schieffer said. "I mean, people are in just such a bad humor. When the economy is bad, when people are worried about jobs, when they're worried about making their house payments, it just colors their thinking on everything."

"Every time the president gets something done that he promised to do during the campaign, it seems to have the opposite effect," he added. "And until this economy starts to look better, and gets to the point where people actually feel like it's better, I think he's going to continue to have these problems."

A recent CBS poll has Mr. Obama's approval rating at 44 percent - matching an all time low set back in March.

Schieffer suggests the problem lies more in the way the administration has framed their message than in the message itself.

"People have come to feel that the government can't get out of its own way, and that the government is unable to deal with these problems," he said," They say, can't anybody do anything about this stuff? And I think the frustration that grows out of that, people tend to, you know, blame on people who are in office, if not directly at least indirectly."

Watch the video from the Early Show above, which includes more analysis of the week in politics.