Despite President Joe Biden’s persistent attempts to highlight his economic policies, which he has coined “Bidenomics,” recent polling reveals that the American populace remains steadfast in their assessment of the President’s initiatives.
The approval rating for Biden’s economic management stands at just 36 percent among voters, a figure lower than the 42 percent who express approval of his overall job performance. This data originates from a recent poll conducted by the Associated Press and the NORC Center for Public Affairs Research. Interestingly, these numbers have seen little fluctuation over the past year and a half, as reported by the AP. Notably, two months ago, when Biden first introduced his “Bidenomics” vision, a mere 34 percent of voters signaled their approval of his economic endeavors.
Another recent survey conducted by CNN provides additional insight, indicating that half of all voters anticipate a worsening economic trajectory. According to this poll, 51 percent of respondents believe that the economy is currently in a downturn that will deteriorate further. In contrast, only 20 percent are optimistic about an improving economy, while 28 percent see it as having stabilized.
The same CNN poll also underscores that voters are more inclined to trust congressional Republicans over Biden when it comes to managing pressing national issues, with a 54 percent preference for Republicans and 45 percent for Biden.
These persistent negative polling outcomes for the economy are at odds with Biden’s consistent messaging about his policies. In a June speech outlining his economic measures, Biden underscored, “Today, the U.S. has had the highest economic growth among the world’s leading economies since the pandemic. We’ve added over 13 million jobs, more jobs in two years than any president has added in a four-year term. That’s no accident. That’s Bidenomics in action.”
Biden has been keen to promote “Bidenomics” as a central theme in his upcoming reelection campaign, asserting that its focus is on fortifying the economy from the middle and bottom tiers. Following his speech, the White House released a fact sheet claiming that “Bidenomics” is already yielding positive outcomes for the American people.
Despite these efforts, a substantial 55 percent of experts foresee the possibility of the United States encountering a recession. Furthermore, recent deliberations within the Federal Reserve acknowledged “significant upside risks to inflation,” dampening hopes of an imminent decrease in interest rates.
Adding to the concerns, U.S. gasoline prices have surged to their highest levels in the past 10 months. These challenges and the public’s persistently lukewarm response to Biden’s economic measures suggest that the President’s message has yet to strike a chord effectively with the American electorate.