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Approval For Biden’s Economic Policies Tanks to Lowest Level Of Presidency

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OPINION: This article may contain commentary which reflects the author's opinion.


While President Joe Biden and the White House continue to spread a positive message about his “Bidenomics” policies, a majority of Americans aren’t buying it and have responded in a brutal fashion.

“Biden’s economic approval ratings have hit an all-time low as his administration continues to push the claim that ‘Bidenomics’ is working, according to a poll released by Investor’s Business Daily (IBD) on Monday,” The Daily Caller reported, citing the survey’s results.

“Approximately 56% of Americans disapprove of Biden’s economic policies as opposed to 24% who approve, a swift drop from the reported 50%-31% in September, according to IBD. The low ratings underscore the problems straining the U.S. economy as inflation continues to rise while wages are by and large failing to keep pace,” the outlet continued.

During Biden’s first two years in office, the inflation rate rose dramatically, rising to a 40-year high of 9 percent. It has since fallen to around 3.2 percent, but it rose again in August to 3.7 percent. The Biden administration, meanwhile, has added $5 trillion to the national debt, which is sitting at $33 trillion, or about double the $2.48 trillion increase that occurred during then-President Donald Trump’s tenure.

But the White House is refusing to acknowledge reality.

“Bidenomics is working: Unemployment is near historic lows, inflation has fallen about two-thirds, wages are rising and job satisfaction is at a record high,” a White House spokesperson previously claimed in a statement to the Daily Caller.

“The midterms and recent special elections showed Americans favor the president’s vision for growing the economy from the middle out and the bottom up over congressional Republicans’ trickle-down economics,” the statement continued.

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The Daily Caller added:

Only 16% of Americans say their wages are keeping pace with inflation, and 61% living paycheck-to-paycheck, according to IBD. The IBD/TIPP financial stress index jumped 2.4 points to 70.5, higher than the 69.8 reported in April 2020 at the height of the COVID-19 pandemic; any reading above 50 indicates rising stress.

Investors have turned from generally positive to negative on their approval of Biden, going from 56% approval in September to 45% in October, according to the survey.

Approval of Biden’s overall performance as president has dropped from 41% in September to 36% in October; Biden’s approval ratings sat at 55% on Jan. 21, 2021, his first day in office, according to IBD and Reuters.

All of this appears to be working to Trump’s advantage. Late last month, an ABC News/Washington Post poll saw Trump with a nearly 10-point lead over Biden, 51-42 percent, with the president’s overall performance ratings extremely poor.

An NBC News poll, meanwhile, found Biden’s disapproval rating at 56 percent, one of the highest of his presidency, while 44 percent of respondents said they are worse off now under Biden than before. That is the highest percentage since 1986, under then-President Ronald Reagan.

“A majority of voters polled in the Post-ABC poll felt the economy; prices of food, energy and gas; the unemployment rate; and average wages were all either ‘poor’ or ‘not so good,’” Axios reported.

“91% agreed the cost of food was a negative. 87% felt the same about gas and energy prices,” the report continued. “74% are concerned about the state of the U.S. economy, and 75% about wages.”

In a survey analysis, ABC News’ Gary Langer noted: “A variety of factors may be at play. Biden’s poor performance ratings, the extent of economic discontent, the immigration crisis and doubts about his age clearly are relevant.”

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He added: “All have been the subject of extensive recent news coverage, focusing public discourse on negatives for the president.”

ABC News host Martha Raddatz and the network’s senior political analyst appeared shocked by the findings.

“These numbers are simply staggering for the sitting president,” Rick Klein, ABC News’s political director, said on Sunday as he broke down the results. “Forty-four percent of people in this poll say they are not as well off as they were at the start of the Biden administration two and a half years ago. Those are the worst numbers that we’ve seen in our ‘ABC News/Washington Post’ polling. And it’s a question we’ve been asking going back to the Reagan administration.”

Continuing, Klein said: “And when – when you dive into the big questions around the economy, we know President Biden has been out there trying to make the case, unemployment is low, he’s been talking about how inflation has been easing, but people aren’t buying it. You covered some of the reasons why. Gas prices, food prices, grocery prices, and the like. Right now, on the big picture in the economy, 74 percent of the country, that’s about three-quarters of Americans say the economy is either not so good or downright poor.”

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