GOP NOT YET CAPITALIZING ON POLL SHIFTS…. Looking at national polls over the last month or so shows a drop off in President Obama’s support. Though he remains fairly popular, support has waned over the summer. A new CNN poll shows his approval rating at 56%, down five points from June and seven points from April. Hardly cause for panic, but an obvious trend.

And while the president’s detractors will obviously be heartened by the results, there’s another trend that’s worth keeping an eye on: waning support for Obama is not yet translating into new support for Republicans. That was evident in several surveys last week, and it’s also apparent in the new CNN data.

So who is getting blamed for the current economic conditions? The survey indicates that more than four in 10 are pointing fingers at Republicans, with around one in four blaming the Democrats and another one in four saying both parties are equally at fault.

“The bad news for the GOP is that they get twice as much blame as the Democrats,” says Holland. “The good news for the GOP is that the number of Americans who blame them is now below 50 percent.”

Respondents were asked, “Do you think the Democrats or the Republicans are more responsible for the country’s current economic problems?” A 44% plurality blame the GOP, while 23% blame Democrats. The margin was slightly worse in May, but it nevertheless suggests Republican efforts to pin a struggling economy on the majority aren’t having the desired effect, at least not yet.

Steve Benen

Follow Steve on Twitter @stevebenen. Steve Benen is a producer at MSNBC's The Rachel Maddow Show. He was the principal contributor to the Washington Monthly's Political Animal blog from August 2008 until January 2012.