Only 14% believe their finances have improved, a survey shows
A majority of US voters are dissatisfied with President Joe Biden’s economic policies, according to the latest monthly poll conducted by the Global Strategy Group and North Star Opinion Research, the Financial Times reported on Monday.
According to the findings, some 61% of respondents said they disapproved of Biden’s handling of the economy, while only 36% approved.
Nearly 70% claimed that Biden’s economic policies have either hurt the American economy or had no impact on it. Some 33% stressed that the president’s actions have “hurt the economy a lot.” Just 26% saw Biden’s policies as beneficial, while only 14% believe their finances have improved since the president took office.
Some 82% of respondents stated that they were especially worried about rising prices and the failure of the current administration to deal with the problem. US inflation has dropped from last year’s peak of 9.1%, but was still well above the 2% target at 3.7% year-on-year in September. Some 75% of those polled named inflation as the greatest threat to the US economy in the next six months.
“Every group – Democrats, Republicans and independents – list rising prices as by far the biggest economic threat… and the biggest source of financial stress. That is bad news for Biden, and the more so considering how little he can do to reverse the perception of prices before election day,” Erik Gordon, a professor at Michigan’s Ross School, told the FT.
Of the respondents, 52% said they had cut spending on food or other everyday necessities due to higher prices, while some 65% were forced to slash non-essential spending on things such as holidays or eating out.
The poll was conducted online between November 2 and 7 among 1,004 registered voters nationwide.
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