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The composite polling picture is Bush at 39-40% approval, 51% disapproval, and 9-10% undecided/very soft Bush supporters. Rasmussen always gets these folks other pollsters find Undecided to call their view approval.
In the six or so categories in which things seem to work, in ethics/governance, social policy, economic policy, foreign diplomacy, and military policy (Iraq) he's at 38% support, on 'handling terrorism' (which is also 'strong leader', fear of foreigners and Modernity, and other complicated ratings) he's at 49%. So 49% is his polling ceiling, 38% his floor.
There's a 1% per month phenomenon of loss of real faith in the fellow and national Republicans (they tie together in the public mind) since December 2000.
There's also trouble brewing in several areas, where moderate Republicans look to come apart from the hardliners in the next few months. It's in the ethics/governance ratings (DeLay getting convicted and the whole Texas Republican mafia thing unravelling), social policy ratings (the new laws about illegals), economic policy ratings (always about taxes- in 2006 the AMT abolition vs adjustment), foreign diplomacy ratings (the Coalition coming apart, Britain being the key loss), and Iraq (the constitutional democracy thing going bust from within). The 'handling terrorism' rating falls whenever Al Qaeda attacks successfully in the West.
The Republican situation is a hell of a lot more frail and overleveraged than either Party thinks at the moment. There's simply a moment/time of relief being felt on the conservative side of the spectrum at the official Republican line shift of November 30. They've internally lowered the bar from achieving domination of their opponents (Democrats and foreign foes) to holding their present ground- in power, majorities, voters, money- and hoping to outlast the challenges as a kind of status quo party based in providing 'national security'. The Democratic leadership is obviously having problems countering this retrenchment- the Party is too full of timid and narrow defensive people for the aggressive, broad, courageous policy stances the new situation requires.
A year from now the GOP will be a spent, dying, Party.
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