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President Obama is battling falling approval ratings, an economy that hasn't meaningfully recovered and a Congress that is committed to thwarting all his political ambitions.
72% of Americans say the U.S. economy is on the wrong course, according to the latest Bloomberg News poll. That same poll shows as many as 62% of Americans disapprove of Obama's handling of the economy and his approval ratings are down to a low of 45%.
Ugly.
However, odds are Obama will win re-election, says Gerald Celente publisher of the Trends Journal. Head-to-head, the President would defeat the top three GOP candidates - Mitt Romney, Gov. Rick Perry and Rep. Michele Bachmann, he says in the accompanying clip.
Why?
"He (Obama) will promise the people something while the [Republicans] are promising to take way from them," says Celente, referring to the GOP's focus on spending cuts and restructuring of entitlement programs. In other words, it's not a vote of confidence, it's more about voting for the "lesser of two evils."
Celente thinks there are two dark horse candidates who might be able to beat Obama. Rep. Ron Paul, although he may lack the charisma needed in an era dominated by Hollywood-style campaigning. The other is former Utah governor John Huntsman, who Celente thinks has all the right credentials.
However, it's way too early to make any lasting predictions, Celente admits. A lot can happen in the next 14 months. Remember way back to early May? Following Osama Bin Laden's killing, Obama's approval ratings spiked 6%. That bounce lasted 2-weeks.
