jim vandehei and mike allen in "politico" say that absent a the president's ability to defy gravity,he numbers needed to defeat -- lead to defeat. >> you have got to be pessimistic if you are a democrat every election becomes, referendum on eigha the incoming's record. -- in combat's record. state-by-state or he is in trouble, even states he carried last time. >> the polls tell us that people are furious at congress. who suffers most after this deal? >> you can hardly get worse than 82% disapproval of congress briefed obama's stayed up given out at the economy was. -- given how bad the economy was. historically, president with these numbers would not win re- election. but somebody has to beat him and that does not seem to be a somebody now that everybody agrees on. they are waiting for governor rick perry to save them from the dismal selection of candidates. i don't think that is going to be the second coming. he has got 7000 people coming to an 80,000 -- >> 8000 -- >> 8000 coming to a 75,000-seat stadium. as mark knows from his days as a political operative, you want a small room fo

politico executive director jim vandehei. >> it's a bummer for people to think about cutting spending and getting fewer benefits. >> reporter: the president's job approval rating is at 48% but unless the employment picture improves he may have a hard time getting reelected. >> there is nothing happening out there that gives us any reason to hope. >> reporter: all of that debate about cutting spending made an impression. 44% of the people in our poll say that spending wasn't cut enough. but, at the same time, almost two-thirds say that creating jobs is more important to them than cutting government spending. erica? >> bill plante at the white house this morning, thanks. >>> so what is behind not only the turmoil in washington but the turmoil in the markets? some stay say the fear over debt and european economies and others point to the jobs situation in the u.s. say got a little better but still in rough shape. >> as bill pointed out that is the primary concern. before wall street opened this morning, we asked the university of california professor robert reich who is also labor secret