Cause for alarm? If you track polls it might be because it has dipped to its lowest mark since he took office. And that means his overall rating has dipped to 58%.

Here are the breakouts…

My guess as to why this is happening? People are nervous about the economy and the deficits. And that last one will be the issue come 2010. I guarantee it. Because while the economy may turn around, there’s no getting away from the idea that deficits are the worst they’ve ever been and they won’t turn around for quite some time.

In fact, here are some numbers from a recent NBC/Wall Street Journal poll that bear that nervousness out…

● 58% say the president and Congress should concentrate on keeping the budget deficit down, even if it takes longer for the economy to recover […]

● when asked the most important economic issue facing the country, 24% chose the budget deficit and only 11% chose health care

With all of the numbers showing how much people want health care, I do question whether or not people really think the budget deficit is the most important economic issue right now. Still, deficits made George H. W. Bush a one termer, so the White House should be paying attention.

By the way, what do you think is the most important economic issue right now?

Business Gallup: Obama's Support Among Independents At 53%