American confidence in the state economy has taken a negative turn recently according to the latest poll from Gallup.

Economic Confidence Index by Week, 2010 and 2011

The poll found that only 30 percent of the Americans think the economy is getting better. That is large drop from a month ago when 37 felt the economy was improving.

Most worrying for the Obama campaign should be that the number of Americans who rated the state of the economy “poor” also tied the record high for this year at 47 percent.

I simply fail to see how any incumbent could win when nearly half the country rankings the economy, the number one issue with voters, as poor.

So far Obama plan to improve the economic/jobs situation right now that seems come down to a silly theory about appeasing confidence fairies, possibly a payroll tax cuts for employers, and a lot of hoping things get better on their own.

It does cause me to see that fashion 2008 campaign poster in a whole new light.