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Iraq continues to be the biggest drain on the president’s popularity: 86 percent of Americans say the Iraq situation, coupled with new information about the decision to go to war, have negatively influenced their view of the president. Asked about Bush’s performance on a variety of issues, from the economy to taxes, respondents gave the president some of the worst marks of his tenure, and in no instance did approval reach more than 50 percent.

Anger over the recent spike in prices at the pump has cost the president dearly: only 17 percent of Americans approve of the way Bush is handling gas prices. Nor do they like the way he is dealing with the federal budget deficit (only 19 percent approve) or immigration policy (25 percent). Even as Congress was approving the latest Bush tax cuts this week, public opinion of his handling of taxes dropped to a record low for him of 39 percent. Half of Americans (50 percent) now think George W. Bush will go down in history as a “below-average” president[...]

Seventy-one percent of Americans are dissatisfied with the way things are going in the country, and more than half—52 percent—say they would like the Democrats to win enough seats to take over Congress this November (only 35 percent want the Republicans to keep control). Looking ahead to the presidential race in 2008, more Americans said they would like to see a Democrat elected than a Republican—50 percent versus 31 percent. That, despite the fact that a majority of those polled don’t believe a Democrat would do any better than Bush is doing on a variety of issues. Democrats also have a significant lead in being perceived as better able to bring about the changes the country needs: 53 percent to 30 percent.

Bush’s new approval low of 35 percent in the NEWSWEEK poll is below the nadir of Bill Clinton’s presidency in May 1993, when the former president hit 36 percent. The 41st president, George H.W. Bush, hit his lowest ratings late in 1992 before he was defeated by Clinton: A Gallup poll in July 1992 recorded a 32 percent approval rate for the first President Bush. But other presidents have fared worse. Jimmy Carter scored 28-29 percent in June and July 1979, according to Gallup. President Richard Nixon’s Gallup number dropped to 24 percent in August 1974.