President Obama's approval on key economic factors plummeted in August, according to a new poll from Gallup. The hardest hit was his approval on the economy, which fell from 42 percent in June to 35 percent in August. This despite his latest "pivot" to the economy.

Obama's approval on taxes fell from 41 percent in June to 36 percent in August, and his approval on the deficit fell from 31 percent to an abysmal 26 percent.

Overall, his approval on all economic factors fell in August, and his highest approval came from his efforts to fight terrorism.