Biden’s economic approval rating plummets to a dire 30% – lower than Trump and Obama – and 52% think the economy will get worse with US gripped by inflation, new poll finds
- Biden approval hits new low of 30% in new CNBC All-American Survery
- His low number was even lower than Donald Trump’s lowest number – 41% – and Barack Obama’s lowest – 37%
- In dire sign for Democrats, CNBC poll shows a deeply pessimistic outlook on the part of voters toward the economy
- 52% believe it will get worse before the end of the year and with at least 60% expect a recession
President Joe Biden’s approval rating dropped to 30% in a new poll, the worst number of his presidency and far below the lowest numbers of his two predecessors in the Oval Office.
And, in a dire sign for Democrats, CNBC’s All-America Survey’s shows a deeply pessimistic outlook on the part of voters toward the economy, with 52% believing it will get worse before the end of the year and with at least 60% expecting a recession.
The increasing price of groceries, food and housing has led to the drop in confidence in the economy, which, in turn, has sent Biden’s approval rating tumbling and poses a major political threat for Democrats in the November congressional elections.
Biden’s 30% approval rating was far below Donald Trump’s lowest number – 41% – and Barack Obama’s lowest – 37%. Biden’s average approval rating is 38.6% according to the RealClearPolitics average.
Voters have consistently given Biden low marks on the economy and CNBC’s All-American Survey showed a similar pattern.
The poll found inflation is voters’ top concern. Inflation in the U.S. rose to 9.1 percent in June, the highest since 1981 and a greater increase than economists predicted.
And it is by far and away the top topic in the mind of voters.
In the CNBC poll, inflation got more than twice as many votes as the next response: abortion.
President Joe Biden’s approval hits new low of 30% in new CNBC All-American Survery
Joe Biden’s 30% approval rating was far below Donald Trump’s lowest number – 41% – and Barack Obama’s lowest – 37%.
That is another worrying sign for Democrats, who had hoped to use the Supreme Court overturning Roe v. Wade as a way to rally voters this fall.
Republicans are favored to win control in the House – and possibly the Senate – when voters go to the polls in November.
The CNBC poll found that voters prefer Republican congressional control by a 44% to 42% margin, but that actually narrowed from a 10-point gap in the prior poll. Republicans lead on the generic congressional ballot by 2 points in the RealClearPolitics average.
Pollsters told CNBC that the congressional control number can be attributed to abortion returning to the national stage as an issue – a sign Democrats were right to use it as a rallying cry.
But the pollsters were also skeptical abortion would remain a top issue, particularly if the economy gets worse.
Inflation in the U.S. rose to 9.1 percent in June, the highest since 1981 and above what economist had predicted
About 47.5% of economists believe the economy is headed toward recession, according to a new Bloomberg survey released Friday.
Several economists polled by the New York Times last month rated the chances of a recession as ‘uncomfortably high.’
Biden has kept an optimistic attitude. He told the Associated Press in an interview last month that a recession was ‘not inevitable.’
But, he conceded that ‘people are really, really down.’
He attributed that, however, to th covid pandemic and the insolation it required.
‘Their need for mental health in America has skyrocketed because people have seen everything upset,’ Biden said. ‘Everything they’ve counted on upset. But most of it’s the consequence of what happened, what happened as a consequence of the COVID crisis.’
There havee been some signs of improvement.
Gas prices, for example, have fallen from the jaw-dropping $5 a gallon reached in mid-June to an average of $4.521 nationwide on Monday – still far higher than a year ago but a drop that could help slow inflation for July and possibly August.
But Americans are making cutbacks as prices for basic goods have soared, including the prices of meat and poultry, which went up by 10.4%, cereal, up 15.1%, and fruits and vegetables, up 8.1%.
Apparel cost shot up by 5.2%, overall shelter costs went up 5.5%, and on average, delivery services have gone up 14.4%.
The CNBC survey found that 65% of those polled said they are cutting back on entertainment, such as eating out or going to concerts.
And more than 4 out of 10 are spending less on groceries.
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