The latest monthly poll by the Global Strategy Group and North Star Opinion Research revealed that a staggering 61% of US voters are dissatisfied with President Joe Biden’s handling of the economy. This poll was conducted between November 2 and 7 and involved 1,004 registered voters nationwide.
The findings from the poll indicated that only 36% of respondents approved of Biden’s economic policies. Furthermore, it was reported that nearly 70% of voters believed that Biden’s economic policies have either had no impact on the American economy or have actively hurt it. In fact, 33% of respondents indicated that Biden’s actions have “hurt the economy a lot.” This sentiment was widespread across different political affiliations, with Democrats, Republicans, and independents expressing concern for the state of the economy under Biden’s leadership.
Additionally, respondents highlighted concerns about rising prices, with 82% of those surveyed expressing worry over the current administration’s failure to address the problem. The inflation rate in the US has dropped from its peak last year, but it remains well above the target rate of 2% at 3.7% year-on-year as of September. Inflation was identified as the most significant threat to the US economy in the next six months by 75% of those polled.
According to the poll, 52% of respondents stated that they had decreased spending on everyday necessities like food due to higher prices, while 65% indicated that non-essential spending on items such as holidays or dining out had been reduced. These figures demonstrate the impact of rising prices on the daily lives of Americans.
Erik Gordon, a professor at Michigan’s Ross School, noted that the concern over rising prices was consistent across all demographic groups, making it a significant challenge for President Biden. With the midterm elections approaching, he highlighted the difficulty Biden faces in reversing the perception of prices before election day. This sentiment was echoed by various experts and academics, suggesting that addressing inflation and its impact on households will be vital for Biden’s administration.
It is clear that the findings from this poll reflect a widespread unease among US voters regarding the state of the economy under President Biden’s leadership. With concerns about rising prices and the overall impact of his economic policies, it is evident that addressing these issues will be crucial for the Biden administration in the months ahead.