The new survey also shows that ratings of Obama's Democratic Party have declined sharply since spring.

Just 49 percent now have a favorable view of the Democratic Party as against 59 percent in April and 62 percent in January when Obama took offie.

But the dip in approval ratings of Obama and his Democratic Party has not benefited the Republican Party. The survey says there is no change in the approval rating of 40 percent of the Republican Party since January.

Further, Americans continue to be gloomy about the economy, with 90 percent viewing economic conditions negatively. About 52 percent said economic conditions were poor and 38 percent only fair.

In fact, Americans have become more bearish about their personal financial future, with only 55 percent hoping their financial situation to improve over the next year, down from 63 percent in June.