Gallup is not the only organization regularly polling Presidential job approval. The Real Clear Politics average has the President at 42.8 - 52.3 approve/disapprove, slightly above the Gallup number.
Why wasn't this a bigger deal in the press?
1. The press covering the Olympics was busy whining about their hotel rooms (and allegedly being spied upon in their showers.
2. Many of the Northeastern press organizations were busy looking for orange cones in NJ Governor Chris Christie's garage.
3. Nearly all of the national press was busy making sure the halo they have carefully constructed for Secretary Hillary Clinton is being kept shined up and straight on her head.
But, don't think for one second that Democrat Members of the House, the Senate and Governors are just glancing at these polling numbers. They are watching them (and their own private polls) very closely, indeed.
The lack of pushback from Democrat organizations tells me their private numbers don't look any better than the public polls when it comes to running for re-election with Barack Obama still in the White House.