THUMBS DOWN ON THE ECONOMY – AT 7:49 P.M. ET:  A new Fox News poll shows that the American people have a decidedly negative view of the economy, and the president's handling of it:

Almost all American voters think the country's economy is in bad shape, and few see benefits from the Obama administration’s economic policies. In fact, slightly more voters think the policies have hurt rather than helped the economy -- and many others think they have made no difference either way.

A Fox News poll released Friday found that more than 9 in 10 voters give the economy negative ratings: 40 percent rate economic conditions as “only fair” and another 51 percent say it is in “poor” shape.

Current views are almost identical to those held a year ago, when 39 percent said “only fair” and 52 percent said “poor” (January 2010).

The bright spot for the Obama administration is the large drop in the number rating the economy as “poor.” The week before he took office in January 2009, some 74 percent said it was in “poor” shape and now that’s down to 51 percent.

Still, only 8 percent of voters rate the current economy positively: 1 percent says it is in “excellent” condition and 7 percent says “good.” These ratings match those from a year ago exactly.

More voters think the economic policies of the Obama administration have hurt the economy (32 percent) than think they have helped (28 percent). The largest number -- 37 percent -- thinks they have made no difference.

COMMENT:  The 2012 election season is coming up rapidly.  The president has about a year to make his case economically, and so far the effort if failing. 

That doesn't mean he will be defeated in 2012.  Republicans still have to come up with a winning candidate, and voters may or may not be convinced that a Republican president can do any better.  But 2011, for this president, is not off to a good economic start.

January 21, 2011