Obama's Approval Rating Has Cratered In The Past Two Months

President Barack Obama's approval rating has fallen 8 points in the past two months, putting him underwater for the first time in more than a year, according to a new CNN/ORC poll.

Obama's approval rating dropped to just 47 percent in the survey, which was conducted March 15-17. His disapproval rating now sits at an even 50 percent, up 7 points from a January survey.

Both numbers are at their most troublesome levels for the President since January 2012, when the split was 47-51. It's also a 15-point swing from this January, when Obama enjoyed a 55 percent approval rating while just 43 percent disapproved.

The CNN poll falls in line with others that have continued to show an approval ratings plunge for Obama. Earlier this month, Gallup's three-day rolling average experienced a 13-point swing in just five days and dropped his split to an even 46-46. In a Quinnipiac poll released last month, his approval rating also dropped to 46 percent. And two weeks ago, Obama's average approval rating fell below 50 percent for the first time in four months.

According to the CNN poll, only 44 percent said they agreed with Obama on the "issues that mattered most" to them.

But Obama remains in decent political shape when compared with Congressional Republicans. More people disapprove of Republicans' handling of federal spending than they do of Obama, and 70 percent of respondents said Republicans weren't "doing enough" to cooperate with Obama. About an even number of respondents trust Obama and Republicans on handling the federal budget, according to the poll. Moreover, the poll found that 57 percent of those surveyed still agree that Obama has the right personality and leadership qualities to be president.