Polls Find 3 of 4 Americans Saying Country's On Wrong Track

People keep talking about how dissatisfaction hasn't been this high since 2008 and the Wall Street bailout. But I'm thinking back to 1991, when President George H.W. Bush went from almost 90 percent approval on the Persian Gulf War to being defeated by Bill Clinton in 1992. At the Los Angeles Times a whopping 60 percent disapprove of President Obama's handling of the economy. There is no doubt that economic issues will be the number one priority for voters next year, so in California, a reliably blue state, those are horrible numbers for the Democrats. See: "Poll illustrates California voters' anger." Especially noteworthy about the Times' poll is that partisans on both sides are digging in their heels against compromise, with 57 percent of Democrats and 50 percent of Republicans backing a stand-firm position for their party's priorities. That's the anger factor right there. There's speculation that the summer's budget battle in Washington --- which Democrats lost --- has helped create a hardening of positions. This seems to go against suggestions that we should all just get along and work for the common good.

And today's Wall Street Journal poll is a keeper. See, "Voter Discontent Deepens Ahead of Obama Jobs Plan." (At Google as well.) Seventy-three percent say the country's headed in the wrong direction. But picking up on my discussion from yesterday on the Electoral College, this bit on Ohio is devastating for the White House:

Voters appear to be looking for a new direction. By 44% to 40%, Americans now say they are more likely to vote Republican next year than for Mr. Obama's re-election. In June, the president held the edge, 45% to 40%. The president is losing support from key groups including political independents, women and Hispanics.

In the Mahoning Valley of Northeast Ohio, a Democratic stronghold that Mr. Obama must win handily next year, the president can find all the hurdles that will impede his path: 10% unemployment, collapsing incomes, private-sector payrolls that have begun creeping back from the depths of early 2010 but which remain roughly 19,000 jobs down from a decade ago for the metropolitan area here.

The lukewarm support Mr. Obama finds here not only endangers his hopes in Ohio, one of the country's key swing states, but shows the erosion in enthusiasm for the president even among voters he should be able to reach and who he will need badly next year.

Bill Hiznay—a registered Democrat who voted for John McCain in 2008 and says he's currently undecided—says the president inherited the terrible U.S. economy, "But we're still going to blame Obama for our misfortunes." Mr. Hiznay, a 58-year-old pipe-mill worker, added: "He's in trouble, no question about it."

Among blue-collar workers nationally, the president's disapproval rating reached 56% last month. Some 49% of union members and union households disapprove of the job Mr. Obama is doing, vs. 45% who approve.

Blue collar America is turning against this administration. Not even three years after Barack Obama was elected as a man who could virtually walk on water, he's being repudiated viciously among voters from left to right. This helps explain why Democrats and union leaders are so combative. It's all slipping away. The mask of "hope and change" is falling off. The electorate's rose colored glasses are off too. I'm getting really excited for next year, no matter who wins the GOP nomination.

Sarah Palin to Blast Washington's 'Compromised Political Class' in Iowa This Weekend

See Robert Costa, at National Review, "Palin Will Blast ‘Compromised Political Class’ in Iowa."

For a long time I admired Sarah Palin's savvy instincts (and I still do), but I think she's waited too long to announce her intentions for the presidency. Apparently, she'll say in Iowa tomorrow that she's still undecided, and then she'll reprise her basic stump speech about how dumb are establishment politicians and how broken is establishment politics. I can't help thinking that Palin's moment has passed for this cycle, and that she'd be better off announcing definitively that she'll not be a candidate in 2012. For more on that see Doyle McManus, at LAT, "Palin the procrastinator," and Alex Parker, at U.S. News, "For 2012, Sarah Palin's Time May Have Run Out."



And check the video at Right Scoop, "Karl Rove: Palin is hurting herself. She needs to get in or get out."



BONUS: From Tony Katz, at Pajamas Media, "The Sarah Palin “Will She/Won’t She” Tour Begins."

'Always Proud' — Sarah Palin Bus Tour Rolls Into Iowa

Here's the new video from SarahPAC, "The SarahPAC One Nation bus tour Rolls On!":

And at CNN, "BREAKING: Palin bus tour to roll into Iowa" (via Memeorandum).

Palin's re-emergence in Iowa just hours before the debate is a reminder that the 2008 GOP vice presidential nominee intends to remain part of the presidential discussion as long as possible, despite being largely dismissed by party insiders.

No doubt. In fact, it's getting pretty crowed in the Hawkeye State.



RELATED: Robert Stacy McCain continues his reporting, "Iowa Notebook: Romney Coming to Town; Pawlenty and the ‘Plausible Chance’ Trick."

Republicans Holds Four of Six Contested Seats in Wisconsin Recall Elections

William Jacobson warns not to celebrate just yet: "The Wisconsin Recalls Are Not Over." And he's right. Next week's recalls in Wisconsin will be crucial for control over the Senate. But I think a little celebration is in order. Don't you just love this screencap from the Los Angeles Times below. And I swear that Democrat on the right looks like she's wearing a shirt that reads, "Union Thug." Ha, ain't in the truth! And at the Times' article, "Parties seek clues for 2012 in Wisconsin recall election results."

William has more at Legal Insurrection, "“I can see 2012 from my house”," and "The Battle of Wisconsin was not Democrats’ finest hour."



RELATED: Don't miss Chicago Boyz, "This is What Democracy Looks Like." (Via Memeorandum.)

RSM Covers Herman Cain in Iowa

I commended Robert Stacy McCain the other day on Twitter, thanking him for his excellent coverage of the run-up to the Ames straw poll.



And now he's got some more great blogging, on the Herman Cain presidential campaign. See "Sioux City: Herman Cain Begins Iowa Bus Tour With Noon Speech to Jewish Group," and "Denison: Overflow Crowd Hears Herman Cain Slam Obama: ‘That’s Not Leadership!’"

Check for updates at The Other McCain.

Asian Markets Fall in Monday Trading After U.S. Downgrade

At New York Times, "Asian Markets Fall Despite Efforts by Policy Makers."



But see Los Angeles Times, "No rush from U.S. Treasuries, as yields fall while Asian stocks slump":

U.S. Treasury bonds' status as a haven seemed intact in Asia on Monday, as yields fell despite Standard & Poor's downgrading of Uncle Sam's credit rating on Friday.



It may have helped Treasuries that Asian stocks were broadly lower, as some investors bailed out ahead of European and U.S. equity trading.



The 10-year Treasury note yield slid to 2.50% in late Asian trading, down from 2.56% on Friday.



Shorter-term yields also fell. The two-year T-note dropped to a record low 0.26% from 0.29%.

More at that link above, and see, "What the U.S. debt-rating cut may mean for markets":

If investors dump Treasuries, where would the money go?



They don’t have a lot of options if they want to keep their money in something relatively safe.



The bond markets of other countries still rated AAA -- including Germany, Canada, France, Finland and Australia -- are far smaller than the U.S. debt market. The appeal of Treasuries in part is their great liquidity, meaning it's easy for investors to instantly buy or sell bonds.



What’s more, Europe has its own worries: The continent’s government-debt crisis has worsened in recent weeks, with investors now fearing that Spain and Italy could be forced to seek European Union bailouts, following the paths of Greece, Ireland and Portugal over the last 15 months.



Some investors are likely to run to gold, another classic haven. Gold has been streaking this year, rising 16% year-to-date through Friday, to $1,648.80 an ounce.



Haven’t Treasury interest rates been falling lately, anyway?



Yes. Investors have been pouring cash into Treasury securities since mid-April, driving interest rates down, as global economic growth has faded. The rate on the 10-year Treasury note, a benchmark for mortgage rates and other long-term interest rates, fell as low as 2.40% last week from 3.59% in mid-April.



Because worries about the economy have only worsened in recent weeks, many analysts believe that any jump in Treasury rates related to S&P’s downgrade could quickly bring a torrent of buyers into the market, happy to snag higher yields.



“The fundamentals of U.S. and global growth are weakening, and that’s a fertile time to be in Treasuries” as a haven, said William O’Donnell, head of Treasury-bond strategy at RBS Securities.

RELATED: At CNBC, "No Chance of Default, US Can Print Money: Greenspan" (via Memeorandum).