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Slip sliding away…The Dow dropped 512 points today, and President Obama’s approval rating is down to 42 percent according to Monday’s Gallup poll. CNBC’s Maria Bartiromo joins us tonight with a market update. And in Politico today, Jim VandeHei and Mike Allen report on the President’s slipping approval ratings amidst the country’s economic slump. Will Republicans harness raw empirical economic data to defeat him in 2012? VandeHei joins us tonight, with New York Magazine National Affairs Editor John Heilemann.

 

Then: In this week’s Time magazine cover story Deputy Washington Bureau Chief Michael Crowley traces what could be a historic change in American politics spurred by Tea Party power in the debt ceiling negotiations. He’s here with Chicago Tribune columnist Clarence Page to discuss the Tea Party’s Triumph tonight.

 

Up next: The Hardball Strategists with a 2012 update! What’s the case for and against re-electing President Obama? Why is Tim Pawlenty pulling ads in Iowa days ahead of the Straw Poll? And what does Rick Perry have to say about Mitt Romney’s healthcare plan? Republican Strategist Todd Harris and Democratic Strategist Steve McMahon are here to discuss and debate tonight.

Plus: Just as things were beginning to simmer down from the summer’s heated debt ceiling debate, a new crisis struck: The fight over funding for the FAA, which led to a temporary partial shutdown. Congress resolved the issue today with a bipartisan deal to end the partial shutdown, which Transportation Secretary Ray LaHood called “a tremendous victory for American workers everywhere.” LaHood joins us tonight to tell us what happened. Don’t miss this show!   

Coming up on Hardball…

Updated