The stock market and the jobs outlook aren’t the only things slumping. RealClearPolitics, which tracks just about all national polls, finds him at a new low in average approval: 44 percent. In the Gallup poll, Obama has a 41 percent approval/51 percent disapproval rating.

As Mickey Kaus said in a lively discussion with me today, there is a point in many presidencies in which everyone is mad at the president. We might be there, and it’s not clear that there is a rebound in sight so long as the economy remains in such poor shape.

The bad news for the White House is the ongoing downpour of bad news and new, rotten milestones. (“US debt shot up $238 billion to reach 100 percent of gross domestic [product] after the government’s debt ceiling was lifted, Treasury figures showed Wednesday.”) And to complicate matters for Obama, the media have noticed that he’s out of pro-growth ideas and his base is egging him on to do even more counterproductive things. The Post’s liberal blogger Ezra Klein sums up nicely the drumbeat on the left: “Democrats will have exactly one chance to overcome the GOP’s resistance to tax revenue.” He means tax hikes.

Moreover, Obama already dismissed out of hand the tax proposals of his own debt commission, which would have done pretty much what Klein recommends (“a Gang-of-Six-esque plan that cleans the code, lowers rates for everyone”).

In other words, Obama’s awful policies and eonomic results have turned the electorate against him, and unless he commits to more of the same failed policies, his base will be increasingly disaffected. In a very real sense, this is the marriage of bad policies and bad politics.