According to the latest Gallup Poll, 56 percent of Americans disapprove of Obamacare.

As the Affordable Care Act begins its second open enrollment period, a mere 37 percent of Americans say they approve of the law.

Overall, the approval of Obamacare has been declining since 2012.

Approval had been in the low 40 percent or high 30 percent range after a dip that occurred in early November 2013, which took place after millions of Americans received notices that their current policies were being canceled, an occurrence that was contrary to President Barack Obama's pledge that those who liked their insurance plans could keep them.

The current 37 percent reading comes right after the midterm elections. And although the Republicans, who just won full control of the house, have been openly discussing their efforts to repeal the law, a repeal, given President Obama’s veto power, is extremely unlikely.

The president has acknowledged he will consider modifications to the law, which could include repealing the tax on medical devices, an issue that was pushed by Republicans and instigated by an intense lobbying campaign led by the medical device industry.

Approval of the law breaks down by political parties: 74 percent of Democrats approve of the ACA , while only 8 percent of Republicans do. Currently 33 percent of independents, who have never shown any strong support for the ACA, approve.

And along racial lines, nonwhites have maintained majority approval since the ACA's inception, which is now at 56 percent. Though this number is still about double the level of approval among whites (29 percent), it is the first time, according to the Gallup Poll, which has a margin of error of plus or minus 4 percentage points, that nonwhites have fallen below the 60 percent mark.

The percentage of Americans who approve of the Affordable Care Act represents a new numerical low, which may, coupled with the results of 2014 midterm elections, indicate a loss of faith in the president’s agenda.