New Math

CBS News/New York Times poll, conducted April 23-27

Bush Approval:

Overall - 46 approve/47 disapprove (40/47 among independents)

Foreign Policy - 40 approve/51 disapprove (36/52 among independents)

Iraq - 41 approve/52 disapprove (37/53 among independents)

Economy - 39/54 (36/57 among independents).

Right Track/Wrong Track - 36 right/55 wrong (30/59 among independents)

As they put it at Donkey Rising, "We can now safely disregard the theory that bad news somehow doesn't hurt Bush politically."

In other words, Don't Panic.