The dip in support is running at 30% in two years or 15% per annum.
Projecting this trend, if things did not improve in the next year, around the time of the general election debates between Bush and his Democratic Rival (Fall 2004), we would see a Bush support level drop to 52% and an Bush opposed level rise to the mid-40%s. If the undecided swing 'wanted something new' as many impatient, uninformed Americans always do every four years rather than staying the course, that could tighten the race further. Demogoguery by the Dems, with this close of conflicting opinions, could make the election just as close as Bush-Gore. They might rely on hanging chads again to bail their asses out. Don't count the chickens yet.