Austerity politics not serving Obama well (updated)

President Barack Obama got a little bounce following Osama bin Laden’s killing, and the weak Republican field of challengers has helped give the president an advantage in recent swing-state polls. Public Policy Polling’s latest Iowa survey found Obama leading all the named Republican candidates by at least 9 points, for instance.

However, Obama’s position looks much more tenuous if the 2012 election is about “the economy, stupid.” According to the latest nationwide Washington Post/ABC News poll, disapproval for how Obama has managed the economy is at record-high levels, and the incumbent trails former Massachusetts Governor Mitt Romney among registered voters.

The “great recession” was not Obama’s fault, but no one can credibly claim his administration did the best it could to boost the job market and housing sector. By next November, the U.S. may be in a double-dip recession. Complicating matters for Obama, he has played into the eventual GOP nominee’s strongest arguments against his record on the economy. Follow me after the jump for details on the new national poll and the latest bad economic news.

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