WELCOME TO THE BASEMENT – AT 8:49 P.M. ET:   President Obama scores his lowest ratings yet in the Gallup Poll.

The president's approval rating stands at 43%, while 48% disapprove.

Gallup makes the point that the party of a president whose approval dips below 50% loses, on average, 36 seats the House in midterm elections.  With Mr. Obama at 43%, the GOP is in position to win the 41 seats needed to take the House and send Nancy Pelosi back to obscurity.

August 14, 2010