In a new Zogby/Reuters survey, both George W. Bush and the Democratic-led Congress have hit new low approval ratings. Just 29 percent of respondents approved Bush’s performance, down from his former low of 30 percent set in March. Congress is considered even more ineffective, with 11 percent of respondents approving of the legislative body’s performance, down from a previous record low approval rating of 14 percent.

Pollster John Zogby said events over the past months have affected the nation’s overall mood and outlook:

“Since the last time we polled we have had the mortgage crisis, and we are hearing the recession word a whole lot more than we’ve heard it in the past,” Zogby said. “There are things that happened in the September polling that drove the number down a bit, and they are mostly economic worries,” he added.

Nearly 62 percent of those polled think the country is on the wrong track. About two-thirds of Americans think the value of their homes will stay the same or decrease in the next year, and about one-third expect the housing slump and credit crunch to lead to a recession in the next year.

The poll also found that 68 percent of Americans rate U.S. economic policy as fair or poor, and 73 percent calling U.S. foreign policy either fair or poor.

“The public mood is not just dark. What’s darker than dark?” Zogby said. “The mood is getting ugly.”