Tanking.

(Rasmussen) — President Obama now earns his lowest level of support yet against a generic Republican candidate in a hypothetical 2012 election matchup.

The latest Rasmussen Reports national telephone survey finds that a generic Republican earns support from 47% of Likely Voters, while the president picks up 41% of the vote. Four percent (4%) favor some other candidate, and eight percent (8%) are undecided.

Last week, the generic Republican received 48% of the vote, the highest level of support yet, while the incumbent earned 43%. The GOP candidate has now out polled the president in eight of 11 surveys conducted weekly since early May. Prior to this survey, the Republican has earned 43% to 48% of the vote, while support for the president has ranged from 42% to 45%. Rasmussen Reports will provide new data on this generic matchup each week until the field of prospective Republican nominees narrows to a few serious contenders.

In the Generic Congressional Ballot, Republicans hold a six-point lead over Democrats for the week ending Sunday, July 17. The GOP has led on the ballot every week since June 2009.