Obama dips below 50% in 2 polls

The faltering U.S. economy seems to be taking its toll on President Barack Obama's approval rating.

Two new public opinion polls show the President's job approval -- which was in the high 60s upon taking office in January, is now under 50% for the first time.

A new Rasmussen Poll puts the approval number for the President at 47%, while a poll from Quinnipiac University shows the President with a 48 percent approval rating.