President Obama's re-election campaign is feeling the heat of a new voter poll this morning. Very few Americans say they're better off since President Obama took office.
According to a new ABC News/Washington Post poll, the president's job approval rating has slipped to 47 percent.
When it comes to the economy, only 16 percent of Americans say their financial situation has gotten better under Obama, while 30 percent say they are worse off.
The economic woes are comparable to when President George H.W. Bush lost his re-election bid in 1992.
The backlash has Obama and his campaign on the attack against Romney.
"If your main argument for how to grow the economy is 'I knew how to make a lot of money for investors,' then you're missing what this job is about," the president said at the NATO summit in Chicago.
The Obama campaign argues that the job of president is to figure out how every American has a fair shot.
Romney called Obama's attack a battle against free enterprise, arguing that the president refuses to accept "responsibility for his failed polices."
The Obama campaign is not backing down in its attempt to portray Romney as a heartless corporate raider.
"To me, Mitt Romney takes from the poor and the middle class and gives to the rich," one man says in an anti-Romney political ad. "It's just the opposite of Robin Hood."
However, the White House took a hit this week, when Newark, N.J., Mayor Cory Booker, a good friend of Obama, appeared on NBC's "Meet the Press," criticizing the president.
Booker said he did not like the campaign rhetoric coming from the White House about Romney's work at the private equity firm, Bain Capital.
'But the last point I'll make is this kind of stuff is nauseating to me on both sides," Booker said. "It's nauseating to the American public. Enough is enough. Stop attacking private equity."
Booker later backed down, saying he fully supports Obama's right to attack Romney.
Obama defended his criticism of Romney on Monday, saying Romney's record at Bain is rightfully part of the campaign debate.
However, Romney aides say this election will be a referendum on Obama's economic leadership far more than a question of Romney's business career.