President Joe Biden may be facing a political emergency as a poll released late last week shows his popularity has all but collapsed. 

Commission by Reuters and carried out by Ipsos between August 4 and August 6, the survey found that Biden's approval rating stood at only 40%.

Approval varies according to education level and geography

The poll found some regional variations in how the president is perceived, with his approval rating rising to 43% in the Northeast and West while dropping to 36% in the South.

Urban voters had the most favorable view of Biden, giving him an approval rating of 47%. That figure dropped to 40% and 26% respectively when suburban and rural voters were asked.

There were also differences when participants were sorted according to education. Thirty-three percent of respondents without a college degree expressed approval compared with 44% of college graduates.

Thirty-seven percent of white voters said they approved of Biden's job performance, whereas 45% of non-white voters said the same.

Biden gets low marks when it comes to the economy

Participants listed the economy as being their biggest concern, and most gave the president low marks on how he has handled the issue.

Sixty-percent expressed disapproval regarding his approach to inflation, a figure which includes roughly one third of those in Biden's own party.

This poses a problem for the president given the way Biden has made a point of touting his economic record, something he refers to as "Bidenomics."

Bidenomics is working.

Factories are being built, jobs are being created, and it’s happening all across America in communities that have been left out and hollowed out.

— Joe Biden (@JoeBiden) July 8, 2023

Vulnerable House Democrats distance themselves from "Bidenomics"

Politico reported last week that some vulnerable House Democrats have made a point of distancing themselves from the term "Bidenomics."

One of them is New Mexico Democratic Rep. Gabe Vasquez, who told the website that he is "careful about pointing to economic progress."

"I’m hyper-focused on the district. I think the most important job that a congressperson can do is first listen, and then react," the lawmaker was quoted as saying.

"And so I’m not going to go into my district pushing a Democratic agenda that people don’t feel is happening on the ground," Vasquez went on to add.

That's an understandable position in light of a CBS News/YouGov poll carried out between July 26 and July 28 found that of those who have heard the term, 50% said they associated it with higher inflation while 49% linked it to higher taxes.