US President Joe Biden departs from the Holy Trinity Catholic Church on July 17, 2022 in Washington, DC.
Saul Loeb | AFP | Getty Images
President Joe BidenAs of the latest, the overall and economic approval numbers have reached the lowest level of his presidency and have fallen even further than those of his two predecessors. CNBC All America Economic Survey,
With Americans feeling crushed under the weight of rising prices, Biden’s economic acceptance fell 5 points from the prior poll in April to just 30%. The president’s economic record is supported by only 6% Republicans, 25% Independents and 58% Democrats, a very small number for his own party.
In comparison, President Donald Trump’s economic approval stood at 41% and that of President Barack Obama at 37%.
Biden’s approval on his overall running of the presidency came in at 36%, which is 1 point below Trump’s worst rating. Of those polled, 57% disapprove of Biden’s handling of the presidency.
A survey of 800 people nationwide found that 51% believe the president’s efforts to tackle inflation are not making a difference, and 30% think they are actually hurting. Just 12% say they are helping. This poll, conducted from July 7 to July 10, has a margin of error of plus or minus 3.5%.
The president’s dismal numbers come among the worst economic outlook measures CNBC has recorded in the survey’s 15-year history.
Of the participants, 52% believe the economy will worsen in the next year, and only 22% believe it will improve. Both surveys are on record, and they are worse than those found during the great financial crisis. More than 6 out of 10 people surveyed expect a recession in the next 12 months. The other 6% believe the country is already in one. Such levels have only been found during real recessions.
CNBC All America Economic Survey
Only 38% of the public believe their house prices will increase next year, the lowest since the COVID pandemic.
The poll found inflation to be by far the biggest concern in the country, receiving twice as many votes as the next response: abortion, which was first presented as a poll option. This was followed by crime, immigration and border security, employment and climate change. coronavirusThe one who led the list for most of the past several years finished last.
Americans are adopting a variety of methods to meet their needs in the midst of high inflation.
About 65% of those polled say they are turning away from entertainment, such as eating out or going to movies and concerts. Among participants, 61% report driving less and 54% say they are driving less travel. More than 4 out of 10 are spending less on groceries. A third are using a credit card more often, which means there could be higher interest payments if they don’t pay off the balance. The survey found that 47% of participants say they are taking at least four of these measures.
CNBC All America Economic Survey
With gas prices high, 50% of the public say they support easing environmental regulations to reduce prices at the pump, with 42% protesting, and 58% taxing oil company profits back to consumers. support.
When it comes to pocketbook issues, the poll found that Republicans have a definite lead in the upcoming congressional election. But the question remains whether other issues, such as climate change and abortion, can fuel Democrats.
Respondents who say immigration and border security, jobs, and, most importantly, the cost of living are their top concerns, have a definite priority for control of the Republican Congress. For example, those who are most concerned about jobs prefer GOP control by a margin of 54% to 31%. Those who are most concerned about the cost of living prefer the control of the GOP Congress to 47% to 38%. However, abortion ranks as the second biggest concern, and those respondents prefer Democratic control of 67% to 24% of Congress.
Overall, US Republicans prefer control of Congress by a margin of 44% to 42%, but this is actually narrower than the 10-point margin in the prior poll. Both Republican and Democratic surveyors for the poll say it can be attributed to the emergence of abortion as a major issue, though both doubted it could have a significant impact on the results.
It remains to be seen whether the intensity on abortion or other social issues continues until November, and whether inflation remains a major concern.
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