What's behind sharp slip in president's job approval rating?

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Fox News alert on new poll showing the president's approval rating taking a steep dive in the last week.

Welcome to America -- everyone I'm Megyn Kelly.

Seven days ago Gallup polling found President Obama with a 53% approval rating and 40% disapproval.

That was one of the president's best showing since 2009.

Fast forward to this week and he's been a thirteen point swing in the opposite direction.

Only 46%.

Say they approve of the job President Obama is doing that's a seven point drop.

-- 46%.

Now say they disapprove that's up six points.

It comes on the heels of this budget battle we've been watching and it also comes as Americans are paying more and more at the gas pump.

You can see as gasoline prices have soared up nearly fifty cents since January the president's approval rating has slipped.

Chris -- -- Fox News digital politics editor and host a power play on foxnews.com live Chris so we'll get to the gas prices in a minute because.

They've been rising for awhile but so has president Obama's approval.

What is it that's happened in the last week that would account for.

I don't know if you -- caught a precipitous drop it's a seven point drop.

It's -- it it's the course correction I think they would say.

On Wall Street it's the course correction for the president who got a bomb.

Out getting reelected people say OK the guy won let's give him another chance there is a honeymoon phase were reelected president.

But it is shorter and it is more conditional -- it is for people who get elected the first top thirty know him.

And when he does things that reaffirmed things that voters don't like about the president and haven't traditionally proved up.

We start to see the move and I'm sure the sequestration.

The things like the gas prices and we mustn't ever forget.

The increase that everybody got in their taxes the lower paycheck that everybody.

But why -- that -- what I -- that it happened last week that that kicked in in January was early January every walk around saint.

What the heck happened in my paycheck or mid January -- they get paid -- -- This is just now this is February 24 fifth to -- sixth is a priority was 53%.

Today it's 46%.

That's a week ago.

Well of the sequestration fight was the silliest moment that Washington has had.

In a long long silly season.

And the -- doomsday threats that the president and his team we're making.

The intractable.

On ending conflict with house Republicans.

And seeming inability to do any kind of a deal I think would prove it tipping point for those those holed that she said well maybe things will be different in the second Obama term.

What the president said and did over the sequestration fight basically said nope it's going to be like it has been for the last two years.

Is galloping out liar -- -- is he show and showing great polling numbers with other.

Outlets.

Well it just so happens -- and that the Fox News Channel does have an excellent polling unit that was quite good and a Gallup is on track where I like our numbers better I'm I'm.

Partial that way.

But -- these are in keeping with what we see that the president.

Drifted up post election and is drifting down the trend certainly seems to be -- -- expect some of that but the question is.

This is -- president has to think about the strategy that says he's gonna go scorched earth with Republicans.

And use his political capital to break the backs of the house GOP eight.

How much is he really have in the bank.

And will factors like shrunken paychecks with his under his tax deal in January.

And higher gasoline prices and other things.

Get voters to the point that they're fed up and say you know what your strategy for an -- democratic congress in the mid term elections I'm not so sure about that.

And and just looking at the numbers -- -- are our Fox News poll says.

He's at 46% that's what Gallup says and quinnipiac poll says he's at 46% and he's been dropping all of these polls it's not.

It's not just one.

You mentioned you know sequester in this -- The changes to the budget.

Brit Hume -- on -- Reilly last night and was making an interesting point about how different.

-- hone this president struck.

Vs what -- has experienced in his history covering Washington in the White House listen here.

President Obama's behavior in this business about the automatic budget cuts.

This is so -- peculiar press behavior I've ever seen in our president in -- a little fun normal president would be trying to reassure the public.

Did this after all is not a large sum of money compared to the budget overall.

And then -- on and we apologize to -- cut short.

To explain it but this president is out there trying to sort of scare people -- trying to assailant -- that the sky is falling the sky is falling.

Well -- I -- first how wonderful it is to get to work with somebody like Brit Hume.

Who can use the phrase normal president and it's got some it's got some credibility he's covered known and dealt with enough of them in his career that he knows what constitutes normalcy.

In that very rarefied universe.

But this for President Obama this is a big gamble that he's making this relates to his permanent campaign that he is funding with these huge donations that they're seeking.

From people who want access we -- to the president this has to do with his constant warfare with Republicans this has to do with constant effort to seek total victory.

The question is does he have enough if you'll pardon me gas in the tank.

To get where he's going or will voters eventually tire of scary stuff and will voters eventually tire of gridlock can just tune him out because at some point.

Between now and the end of his term he will become a lame duck it happens to the best of them.

And the question is is he accelerating the moment at which he becomes a lame duck and somewhat irrelevant.

He really has not had a credibility problem with the American people I -- lot folks on the right don't don't feel that way but in general he hasn't really had a credibility.

Problem with the American people.

But he expended a lot of capital.

In the in the buildup to try to avoid -- in a spending changes that he signed into law.

And there's a real question given those numbers Chris about whether it.

And people are starting to doubt him they're starting to doubt whether they're getting the -- group.

You've got it and the real fight is just beginning now which is over the continuing resolution -- the government current one expires on the 27 of march and that is the real fight that's coming.

Will the president have more or less credibility in that fight after his sequester scare stuff I would say let's.

We'll watch it we'll see these how to polling does Chris thank you.

You -- --

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What's behind sharp slip in president's job approval rating?

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