A recent CNN survey, reveals growing skepticism among American adults regarding the effectiveness of President Biden’s economic policies, correlating with his declining approval ratings. The poll indicates that a notable 58% of respondents believe Biden’s economic initiatives have had a detrimental impact on the U.S. economy. This is in stark contrast to the 24% who view his policies as favorable and the 18% who think his actions have had a neutral effect.
A Dip in Approval Ratings
Notably, the survey reveals a significant decline in Biden’s approval rating, which now stands at 38%. This is the lowest it has been since CNN began assessing his performance in March of 2021. In addition to this, 58% of those surveyed expressed an unfavorable view of the president, while 45% feel he is concerned about people like them.
The Economic Landscape Under Biden
Stubborn inflation and rising interest rates orchestrated by the Federal Reserve have been significant factors contributing to public discontent. Respondents in the poll cited a lack of palpable economic relief as a primary reason for their disapproval of the Biden administration’s policies.
White House Defends Economic Plans
Despite these figures, the White House continues to be optimistic about Biden’s economic roadmap, commonly referred to as “Bidenomics.” Earlier this week, the President took to the Milwaukee Journal Sentinel to write an op-ed, drawing attention to rising wages, better job satisfaction, and the rejuvenation of union pensions.
Biden also stated that inflation is “close to its lowest point in more than two years,” marking the first anniversary of the Inflation Reduction Act. This comprehensive economic package aims to combat inflation while increasing employment opportunities and reducing unemployment levels.
The Jobs Report and Beyond
Biden’s comments followed the release of last week’s jobs report, which showed that the U.S. economy added 187,000 jobs in August and the unemployment rate went up slightly to 3.8%.
The CNN poll was carried out by SSRS between August 25 and August 31, surveying a random national sample of 1,503 adults. The margin of error for the poll is 3.5 points.
The recent CNN poll serves as a significant indicator of the American public’s perception of President Biden’s handling of the economy. As the administration seeks to push its economic agenda, it appears that winning over a skeptical public may be an uphill battle.
