Only seven percent of voters believe President Joe Biden’s economy is “very good,” while a significant 34 percent say it is “very bad,” a glaring 27-point differential, according to a CBS News poll. This data suggests serious warning signs for Biden’s reelection prospects, as the economy stands as the top issue for voters.
The poll reveals a grim picture of Biden’s economic management. Overall, only 32 percent of voters think the economy is in very or fairly good shape, while a whopping 63 percent say it is in very or fairly bad shape. Another five percent are unsure, underscoring widespread dissatisfaction. With inflation and the economy as the top concerns for 75 percent and 81 percent of voters respectively, it’s clear that Biden’s handling of economic issues is under intense scrutiny.
The survey, conducted among 1,615 registered voters from June 5-7, 2024, carries a margin of error of ± 3.8 percent. The data aligns with broader economic concerns, as Breitbart News’s John Carney highlighted the possibility of higher interest rates persisting indefinitely. Despite a positive inflation report, the Federal Reserve’s Summary of Economic Projections has adjusted its expectations, now implying fewer rate cuts and a higher benchmark rate for year-end, potentially remaining elevated long-term.
Inflation continues to be a significant burden on American taxpayers, with overall prices up more than 20 percent since Biden took office. This surge in inflation is straining household budgets across the nation. Jacki Kotkiewicz, a Republican National Committee (RNC) researcher, pointed out on X that “Average inflation under Biden is more than double the level seen under any of the last 4 presidents.” She further noted that year-over-year inflation has been above 3 percent for 38 consecutive months, marking the longest period of high inflation since the late 1980s.
As Biden’s administration grapples with these economic challenges, the dissatisfaction among voters signals potential trouble for his bid for reelection. The American electorate’s focus on economic issues, combined with the persistent inflation and uncertain interest rate environment, paints a challenging landscape for Biden and the Democrats as they head into the 2024 election season.
