Obama, GOP both have bad poll numbers

A new poll shows troubling numbers for President Obama -- but also for Republicans.
Take the new ABC News/Washington Post poll.
It reports a 49% unfavorable rating for President Obama, with only 48% giving him a favorable rating -- the first time in this survey that the president's negative rating exceeds his positive.
But then consider the ratings for newly minted Republican front-runner Newt Gingrich. He has an unfavorable rating of 48%, and a favorable rating of 35% (with the rest undecided).
"Moreover," reports ABC News, "while just 23% see Obama 'strongly' favorably, Gingrich's core group of strong supporters is just half as large, 12%."
One reason for Obama's troubles: The economy.
Reports ABC News:
If an overall 48% or 49% unfavorable rating is unwelcome, consider the economy: A vast 74% of Americans express an unfavorable opinion of its direction, including 51% who rate it 'strongly' unfavorably.
That's in part a political judgment, with dim views of the economy's direction 19 points higher among Republicans (84% unfavorable) than among Democrats (65%).
In line with the political element to economic assessments, Obama is a vast 38 points more popular among people who have a favorable view of the economy's direction vs. those who see it unfavorably.
There's an opposite effect for Gingrich, and a much less pronounced one; he's 11 points more popular among people who take a negative view of the economy than a positive one.