Todd, on with Today co-anchor Ann Curry, came up with that conclusion after reciting results from a new NBC News/Wall Street Journal poll that showed "Everybody is angry at all things Washington" as Todd noted "Democrats hit an all-new high in their negative rating. Republicans have even a higher negative rating. The Tea Party, which had enjoyed a positive rating for awhile, now they have a negative rating." Todd, then, went on to prematurely throw cold water on any sort of GOP win as he claimed: "If the Republicans get the majorities, it's because people have decided to go into the ballot box and hold their nose, they're not happy with anybody."
The following is the full transcript of the segment as it was aired on the August 12 Today show:
ANN CURRY: What do Americans think about the economy and about the politicians in charge during these tough times? We're getting some answers this morning from a newly released NBC News/Wall Street Journal poll. We've got NBC's political director and chief White House correspondent Chuck Todd here in the studio this morning to fill us in. Hey Chuck, thanks for being here.-Geoffrey Dickens is the Senior News Analyst at the Media Research Center. You can follow him on Twitter here 
CHUCK TODD: Good morning.
[On screen headline: "Unhappy America, NBC News/WSJ Poll On Economy, Obama & Congress"]
CURRY: So even though Jim Cramer sounds very positive, there's a lot of pessimism, as we've seen in the markets, but also on Wall Street, but also on Main Street according to this new poll.
TODD: Americans are feeling doom and gloom. He may not be seeing doom and gloom but look at those numbers about where people feel like we're still in a recession. Sixty-four percent say we have yet to hit bottom. It's an unbelievable number. Nine months ago in January, only 53 percent had that. So here we were the Obama administration told us that this was going to be recovery summer. We've had the administration arguing that the recovery is on their way. Jim Cramer was telling us that the financial numbers say that. The American people don't feel it.
CURRY: And they don't feel like the country is heading in the right direction, which is even more and they're, they're really concerned about where it's going.
TODD: That's right, that's right. And they say 58 percent say we're heading in the wrong direction. Of course this is taking a huge political toll on President Obama. Right now, his highest yet negative rating on handling the economy - 52 percent. Even people who approve of his job overall, are disapproving of the way he's handling the economy.
CURRY: And, and they're disapproving him, I mean we're getting into the nubbins-
CURRY: -in terms of what specifically they're disapproving him, about, in terms of what he's done.
TODD: That's right. They don't, they're not, they don't feel the recovery. And I think part of this may be a disconnect. He's out there every day saying it's coming. It's getting better. And he goes to these places that are hiring 500 people here and 1,000 people there, and they're trying to say, "Look, it's gonna get better. It's gonna get better." People aren't feeling it. And now they're getting more pessimistic and you do wonder if they've stopped listening to Washington because they're sitting there saying, "Hey, Washington's saying it's getting better. I'm not feeling like it's getting better." And then that leads to this crankiness, right now, that they feel about all politicians.
CURRY: They're feeling crankiness about both political parties.
TODD: That's right.
CURRY: Republicans a bit more, but even the Tea Party gets a hit in this poll.
TODD: It does. Everybody is angry at all things Washington. Democrats hit an all-new high in their negative rating. Republicans have even a higher negative rating. The Tea Party, which had enjoyed a positive rating for awhile, now they have a negative rating. Look, what this is leading to is in November, Democrats are still in big trouble. They could lose both of their majorities. But if the Republicans get the majorities, it's because people have decided to go into the ballot box and hold their nose, they're not happy with anybody.
CURRY: So the bottom line is Americans are unhappy and this could, the midterm elections could be a-
TODD: It's going to be, it's going to be a bad election night for all of Washington. Democrats are in big trouble. Even if they hold their majorities the public is saying, "You're not doing your job right and we don't like it."
CURRY: I was gonna try to bust you because what you said, privately, is that it's gonna be a hold your nose election. Alright.
TODD: It is! It's a hold your nose election. They're gonna walk into that ballot box and whoever they pick, they're not happy about it.
CURRY: Chuck Todd, not good news. But it tells us something.
TODD: It does.
CURRY: Thank you so much this morning.
TODD: You got it, Ann.