The New York Times reports the poll, and provides this analysis:
The unhappiness presents clear risks for Republicans in this year’s elections, given the continued unpopularity of President Bush.
But wait a minute, didn’t we just put Democrats in charge of both houses of Congress two years ago? Hasn’t the New York Times itself been reporting that Republicanism is on the decline in America?

So if “Republican America” is in decline, and the vast majority of Americans think we’re on the wrong track, what does that say of the publics’ opinion of what the “right track” is?
I’d actually agree that Republicans are in decline in America, but not so much because Americans are turning to liberalism but rather because Republicans abandoned their conservative principles. Americans elected them, and instead of ethical and transparent leadership of a limited government/pro-growth movement they got shady deals with lobbyists, out of control pork spending, expansion of the nation’s entitlement problems and growth of government.
So yes, Republicans are in decline. And the people think the nation is on the wrong track. But those things aren’t happening for the reasons the New York Times thinks.
(via Bart Hinkle)
