Poll: Americans skeptical of ‘Bidenomics’
Only 3 in 10 Americans Believe the Economy is Improving, Poll Shows
In June, President Joe Biden embarked on an “Investing in America” tour to showcase the positive impact of his economic policies, also known as “Bidenomics.” However, a recent poll conducted by Monmouth University reveals that only 3 in 10 Americans perceive an improvement in the economy.
Despite President Biden’s efforts to associate his policymaking with advancements in unemployment, inflation, and economic growth, the majority of Americans remain unconvinced, as indicated by the poll results.
“The president has been touting ‘Bidenomics,’ but the needle of public opinion has not really moved. Americans are just not giving him a lot of credit when it comes to the economy,” said Patrick Murray, director of the independent Monmouth University Polling Institute.
Furthermore, the poll reveals that only a quarter of Americans believe the country is heading in the right direction, while 68 percent think it is on the wrong track.
Disapproval Across Multiple Areas
The survey, conducted from July 12 to 17, asked participants about their views on President Biden’s handling of jobs and unemployment, transportation and energy infrastructure, and inflation.
Across all categories, the majority of respondents expressed disapproval. Only 34 percent approved of the president’s handling of inflation, while 62 percent disapproved. Similarly, 43 percent approved of his handling of transportation and energy infrastructure, while 51 percent disapproved. The topic of jobs and unemployment received a narrow split, with 47 percent approving and 48 percent disapproving.
Monmouth University also assessed approval ratings for the vice president, Congress as a whole, and congressional leaders, with Americans largely disapproving of their performance to varying degrees.
A Consistent Trend
This poll from Monmouth University aligns with similar surveys conducted earlier this year, indicating a consistent trend of public sentiment. An Associated Press poll conducted last month found that only 30 percent of Americans believed the economy was in good shape, a figure that has not exceeded one-third since 2021.
Furthermore, a Gallup poll in May revealed declining confidence in all economic leaders, with confidence in President Biden’s ability to handle the economy reaching a two-decade low. Similarly, a CNN/SSRS poll in April reported that seven in 10 Americans viewed the economy as being in poor shape.
Understanding ‘Bidenomics’
President Biden recently referenced the Wall Street Journal and the Financial Times for coining the term “Bidenomics” during a speech. However, he failed to mention that the name was not initially used in a positive context.
In April, the WSJ editorial board published an article titled “Bidenomics: Two Years of Falling Incomes,” which highlighted the decline in Americans’ incomes under President Biden’s economic policies. The piece emphasized that when accounting for inflation, Americans have not experienced a raise since he took office.
“This is ugly by any measure, and it documents the price that Americans are paying for inflation unleashed by the spending and monetary excesses of President Biden, the last Democratic Congress, and the Federal Reserve. Americans understand this,” wrote the WSJ editorial board.
In an attempt to reclaim the term, President Biden has recently tried to give “Bidenomics” a positive spin during his campaign speeches.
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