According to the poll, Obama's disapproval rate rose three points to 48 percent. Poll: Many think U.S. headed for depression

A record-high of nearly half the country fears the economy is careening toward a depression, helping push President Barack Obama’s approval rating down by six points in just the last two weeks, according to a new poll.

The president’s approval rating stands at 48 percent in the CNN/Opinion Research Corporation poll released Tuesday, down from 54 percent in late May in the same poll. His disapproval rate rose three points to 48 percent.


Obama’s approval among Democrats has dropped three percent to 82 percent and is dipped five percent among independents to 42 percent.

Obama’s dropping numbers come as Americans’ fears that the country is headed into another Great Depression are higher than they’ve ever been in the CNN poll. In all, 48 percent of those surveyed said another great depression is likely in the next 12 months, while 41 percent said the same in 2009 and 38 percent said so in 2008. A slight majority – 51 percent – said they don’t think the economy will plunge into a deep depression.

But while Americans are voicing concern that the economy is getting worse and plunging toward a depression, Obama said Tuesday that he’s “not concerned about a double-dip recession.” Job growth in May totaled 54,000 jobs, far fewer than the economy has create for several consecutive months, but Obama said it’s not yet clear if last month was “a one-month episode or a longer trend.”

If it turns out to be a longer trend, it could be detrimental to Obama’s hopes of reelection.

Fifty-one percent of those surveyed said that the economy is extremely important in determining their votes for president, while 41 percent said it is very important. Unemployment is second on the list of issues that respondents said are key to their voting decisions, with 45 percent saying it’s extremely important. Other issues including the deficit, terrorism and illegal immigration are extremely important to smaller proportions of those surveyed.

The poll was conducted June 3-7 and surveyed 1,015 adults. The error margin is plus or minus three percentage points.