New from Pew: A Year Ahead, Republicans Face Tough Political Terrain:

A year before the 2008 presidential election, most major national opinion trends decidedly favor the Democrats. Discontent with the state of the nation is markedly greater than it was four years ago. President Bush's approval rating has fallen from 50% to 30% over this period. And the Democrats' advantage over the Republicans on party affiliation is not only substantially greater than it was four years ago, but is the highest recorded during the past two decades.