PRINCETON, NJ -- President Obama's job approval rating is at a new low, averaging 40% in July 26-28 Gallup Daily tracking. His prior low rating of 41% occurred several times, the last of which was in April. As recently as June 7, Obama had 50% job approval. Obama's approval rating averaged 46% in June and was near that level for most of July; however, it has stumbled in the past few days, coinciding with intensification of the debt ceiling/budget battle in Washington. More : Obama Approval Drops to only 40% says new gallup poll!