Obama under 40% approval for first time in Gallup!

President Obama's summer woes have dragged his approval rating to an all-time low, sinking below 40% for the first time in Gallup's daily tracking poll.

New data posted Sunday shows that 39% of Americans approve of Obama's job performance, while 54% disapprove. Both are the worst numbers of his presidency.

Obama's approval rating has hovered in the 40% range for much of 2011, peaking at 53% in the weeks following the death of Osama bin Laden.

But Americans' view of his job performance continued to tick downward as the debt-ceiling debate heated up. By the time he signed legislation averting a federal default, he was mired in the low-40% range. (Continues here)