As President Bush prepares for a nationwide address on the financial crisis, a new CBS News/New York Times Poll shows his rating on handling the economy falling to its lowest level ever. Now only 16 percent of Americans approve of the job he is doing on this issue while 76 percent disapprove of his performance. That's down from a 32 percent approval rating the president registered on the economy in September of 2007.
President Bush's previous low on this question came in July when just 20 percent approved of his handling of the economy. Bush received his highest marks on the economy shortly after the attacks of September 11th, 2001.
This low economic approval rating is not an all-time low for a president, however. Bush's father fell to 14 percent approval on this issue in August 1992 and just 15 percent approved of Jimmy Carter's handling of the economy in July 1979.
President Bush's overall job approval rating remains low as well. Twenty seven percent now approve of the job Bush is doing as president – the same as last month. Republicans approve of the overall job Bush is doing as President while Democrats and Independents disapprove.