A recent poll by the Financial Times and the University of Michigan’s Ross School of Business revealed that only 14 percent of American voters believe they are financially better off since President Joe Biden assumed office. The poll also shows that nearly 70 percent of voters think Biden’s economic policies have either hurt the U.S. economy or had no impact, with 33 percent believing they have “hurt the economy a lot.”
These findings point to the challenges facing Biden’s re-election campaign, particularly regarding the impact of inflation on Americans. In fact, 82 percent of respondents in the poll cited price increases as their primary financial stress.
Despite record job growth and economic expansion during Biden’s tenure, the negative perception of his economic record persists. Only 26 percent of respondents in the poll believe that Biden’s policies have helped the economy.
Judging from the poll results, Biden’s attempt to sell voters on his “Bidenomics”‘” plan to “reindustrialize” the U.S. and create jobs isn’t coming across to the public, the Financial Times reported. “Bidenomics” is the president’s plan to rejuvenate the country’s industrial sector and bring back the middle class.
Most voters seem worried about inflation, and 65 percent of voters surveyed said they had cut back on non-essential spending such as holidays or eating out. Some 52 percent said they had reduced spending on food or other everyday necessities.
“Every group — Democrats, Republicans and independents — list rising prices as by far the biggest economic threat . . . and the biggest source of financial stress,” Erik Gordon, a professor at Michigan’s Ross School, told the Daily Mail. “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.”
The poll was conducted online by Democratic strategists Global Strategy Group and Republican polling firm North Star Opinion Research between Nov. 2 and 7. It reflects the opinions of 1,004 registered voters nationwide and has a margin of error of plus or minus 3.1 percentage points.
President Joe Biden in the Georgetown section of Washington, Sept. 23, 2023. (AP Photo/Manuel Balce Ceneta)