CNN Poll: Despite Biden’s Economic Boasts, Half of Americans See Deterioration

Concerns Rise as Voters Doubt⁣ Economy’s Future

As President Joe Biden continues to brag ‌about ​the economy, half of all voters told CNN they believe the economy is going to get worse.

Fifty-one ​percent of voters believe⁤ the economy ‌is in​ a downturn ‍and will⁤ get worse, according to CNN’s poll. Just‍ 20 ⁢percent say the economy is improving, and 28 percent say it has stabilized.

Biden’s ‍approval rating sits at 41 ⁢percent, according ⁤to the poll, but⁤ drops to 37 percent when Americans are asked to ‍consider his handling of the economy—and to 30 percent when asked about inflation. Only 26 percent of ‍independents say ‍they approve of his handling of ‍inflation.

Voters also said they⁤ trust ⁤congressional Republicans more than ‌Biden to handle the important issues of the day, 54 percent to ⁤45 percent. When asked which issue is⁤ the most ​important,⁣ voters overwhelmingly chose inflation, the economy, poverty, and other⁤ economic issues.

The ‍poll numbers come⁤ as Biden​ offers positive messaging ‍on ​the⁢ state of the‍ economy.

“Today, the U.S. has ⁢had the ‍highest economic growth among the world’s leading economies since​ the pandemic,” Biden said during a June⁤ speech on ⁢his economic policies. “We’ve added over 13 million jobs, more jobs in ​two years than any president has added in a ⁣four-year term.​ And,‍ folks, that’s no ⁤accident. That’s Bidenomics in action.”

Biden said that “Bidenomics,”​ which he hopes will‍ resonate with voters ahead of his reelection bid next year, ⁤is⁤ about building “the economy from the⁢ middle out and the bottom up.”

The ​White​ House released a fact sheet after that speech that said “Bidenomics” is ‍”already delivering for ​the American people.”

The number of‌ Americans who think they’ll have a comfortable retirement, ‌however, in May​ hit its lowest point ‌since 2012. Meanwhile, Gallup reported that fewer Americans think now is⁤ a good time to buy a house ‍than at any time since​ 1978.

Most⁣ Americans began the ⁢year by predicting that 2023 would bring more economic difficulties. Eight in 10 respondents predicted in January ‍that‍ taxes would ‌increase along with the federal deficit.