Seventy percent of voters believe Biden has hurt economy or left it unchanged: Poll
Eden Villalovas
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President Joe Biden’s economic agenda is a major factor amid growing concern in the Democratic Party that the president’s reelection bid is in trouble.
According to a new poll from the Financial Times and the University of Michigan’s Ross School of Business, 70% of voters think Biden’s economic plans have hurt America’s economy or had no impact on it. Thirty-three percent of voters say Bidenomics has “hurt the economy a lot,” while only 26% believe his policies have helped.
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Voters’ outlook for the economy has dropped as worries about rising prices and inflation plague Biden’s reelection campaign. The top concerns transcend party lines, as Democrats, Republicans, and independents are all uneasy about price increases. Eighty-two percent of respondents say price increases are their No. 1 financial stress, and three-quarters of them feel it will be the largest threat to the economy in the next six months.
While inflation has fallen since mid-2022 under Biden’s term, following a 40-year high in June 2022, voters are taking precautions with high consumer prices.
The survey reports that 65% of voters said they have cut back on nonessential spending, while 52% of respondents said they have lowered spending on food or other daily necessities.
This summer, Biden’s campaign revamped his economic message, labeling his administration’s successes as part of Bidenomics. As the White House approaches 2024, Biden is trying to convince skeptical voters to favor his economic policies, touring the nation and touting the strong job market and cooling inflation.
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Only 36% of voters said they approved of Biden’s handling of the economy, compared to 61% who disapprove.
The poll was directed by Democratic strategists Global Strategy Group and Republican polling firm North Star Opinion Research between Nov. 2 and Nov. 7.