More than fifty percent of Americans say they’re worse off now than they were when Barack Obama entered office, a new poll from Bloomberg finds. Additionally, two-thirds say the country is headed in the wrong direction.

Fifty-one percent of Americans say their situation has deteriorated since the last days of the Bush Administration. Just thirty-five percent say their situation has improved.

As for coming holiday shopping, forty-six percent of shoppers say they expect to spend less than in previous years. Just twelve percent say they intend to spend more.

Unless things improve dramatically between now and 2012, expect Ronald Reagan’s famous question to make a comeback: