Poll Shows Majority of Americans Unhappy with Economy, Posing Challenges for President Biden’s Administration

President Biden is desperately trying to boost his reputation on the economy, but it seems voters aren’t fooled. A new poll shows that over two-thirds of Americans aren’t happy with how our nation is performing. In even worse news for the administration, they don’t think it’s going to get better anytime soon, either. On April 18, CNBC released its latest All-America Economic Survey, which examines the public’s opinion about how the US is performing economically. The results were depressing. Sixty-nine percent of respondents have a negative opinion — the highest negative score ever. American workers feel their jobs are secure, but they’re less happy about their incomes, which are being eaten away by inflation. In fact, 81% told pollsters they were making lifestyle changes because of the rising cost of living. Over half of working-class Americans say they’re working more hours so they can keep paying their bills. Meanwhile, 54% said the biggest impact came from rising food prices. As for the future, two-thirds believe the US is heading for a recession — a fear that’s backed up by the Federal Reserve. The Fed staff thinks the economy is likely to start shrinking later this year, mostly driven by the collapse of Silicon Valley Bank and other problems in the banking sector. It’s bad enough that so many Americans have a dim view of the economy. For Biden, there’s worse news; some of the least happy groups are ones he’ll be counting on at next year’s general election. Women aged 18-49 lean heavily towards the Democrats — but their approval of the administration’s economic record has fallen 13% over the last quarter. Among Democrats overall, their approval of Biden’s economic performance is down 2%; among independents, it’s down by 9%. Biden himself is still in denial about the consequences of his huge spending plans. On April 19 he continued to blame Republicans for inflation instead of his own huge spending packages, but it seems Americans just don’t believe him.

President Biden’s Efforts to Boost Economy Falling Short, Poll Shows

President Biden’s attempts to improve his reputation on the economy are not resonating with American voters, according to a new poll. The CNBC All-America Economic Survey, released on April 18, reveals that over two-thirds of Americans have a negative opinion about the nation’s economic performance, marking the highest negative score ever recorded.

While American workers feel relatively secure in their jobs, they are increasingly unhappy with their incomes as inflation erodes their purchasing power. In fact, 81% of respondents reported making lifestyle changes due to the rising cost of living, with over half of working-class Americans stating that they are working longer hours to make ends meet. Rising food prices were identified as the biggest impact of inflation by 54% of respondents.

Furthermore, the poll indicates that Americans are pessimistic about the future of the economy, with two-thirds believing that the U.S. is heading for a recession. This fear is supported by the Federal Reserve, which predicts that the economy is likely to contract later this year due to issues in the banking sector, including the collapse of Silicon Valley Bank.

Of particular concern for President Biden is the declining approval of his economic performance among key demographics that traditionally lean towards the Democrats. Women aged 18-49, a group that Democrats rely on for support, have seen a 13% drop in approval of the administration’s economic record over the last quarter. Overall, approval among Democrats has decreased by 2%, while among independents it has fallen by 9%.

Despite these negative indicators, President Biden continues to blame Republicans for inflation and downplay the consequences of his administration’s spending plans. However, it appears that many Americans are not buying his explanations and remain dissatisfied with the state of the economy.