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Chuck Todd: Polling Shows Obama's 'Presidency Is Over' (VIDEO)

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"I mean, essentially the public is saying your presidency is over," Todd said on "Morning Joe," referring to the latest NBC News/Wall Street Journal poll.

The survey, which Todd characterized as "a disaster for the President," certainly has some lousy top lines for Obama — a possible indication that the recent string of foreign policy challenges has taken a political toll.

At 37 percent, his job approval on foreign policy — long a source of political strength — has cratered to the lowest of his presidency. Fifty-three percent disapprove of his job performance overall.

The poll also found a majority, 54 percent, no longer believes that Obama "is able to lead the country and get the job done."

Naturally, National Journal's Ron Fournier felt vindicated.

But Todd prefaced his commentary by noting that the NBC/WSJ poll was "not a disaster for the Democrats."

Indeed, Obama's poor individual numbers notwithstanding, this survey indicates that he isn't necessarily a drag on Democrats entering a tough midterm election.

Forty-five percent said they would prefer to see a Democratic-controlled Congress, compared with 43 percent who said they would prefer to see Republicans win control of Congress in the midterms.

Moreover, 35 percent said they are most likely to vote for the Democratic candidate in their congressional district, while 30 percent said they will support the Republican candidate and 27 percent said they will back an independent or third party candidate.

A plurality of 41 percent said their vote in November will not be a signal toward Obama. Thirty-four percent said their vote will be a signal of opposition to the President, while 24 percent said it will be a signal of support.