‘Bidenomics’ evokes concerns of increased inflation and taxes.
Majority of Americans Describe Economy as “Struggling” and ”Uncertain”
President Joe Biden can call his economic policy whatever he wants — Bidenomics is the latest catchphrase — but a new poll shows the majority of the American people sum up the state of the economy in one or two words: “Struggling” and “Uncertain.”
That’s according to a CBS News/YouGov poll taken June 26 – June 28 and surveying more than 2,000 U.S. adults. Sixty-one percent of Americans said the word “struggling” described the economy, 56% said “uncertain,” 36% said “unfair,” 27% said “punishing.” Meanwhile, just 15% said it could be described as “rebounding,” and 11% said it could be described as “expanding.”
The poll also indicates that 70% of U.S. adults say that their salary is not keeping up with inflation. Meanwhile, 65% said they would rate the U.S. economy as very bad. Fifty-eight percent say that it’s getting worse.
Most adults are dissatisfied with the way Biden has handled the economy. The president has a measly 34% approval rating on the economy.
Folks like former Speaker of the House Nancy Pelosi (D-CA) have said in recent weeks that the American people simply don’t know how much Biden has done for them as president.
“It has to be messaged,” Pelosi said of Biden’s alleged accomplishments. “He just has to get out there,” she added. ” It’s a busy job being president, I can say that as being speaker. You’re doing your work, but he’s just going to have to make sure the American people know at that kitchen table what this means to them.”
Of course, most Americans know that the pain they feel in their wallet isn’t imaginary. In fact, it especially hits them at the “kitchen table” where they are reminded every night that the cost of their food just keeps going up year after year.
In terms of getting his message “out there,” only 41% of U.S. adults have even heard about Bidenomics. Of those who have, 50% said “higher inflation” comes to mind while 49% said they think of “tax increases” when they hear the term, CBS reported.
Since Biden’s economic policy revolves primarily around government spending — which leads to inflation — and raising taxes, it’s difficult to see how he’s going to shed the negative connotation associated with Bidenomics.
In recent weeks, the president has been trying to do a better job selling his policies to the American people.
For example, Biden touted how his plans have helped manufacturing in Maine.
“Folks, that’s Bidenomics,” he told the crowd. “It’s about growing the economy, strengthening the middle class, making things in America again.”
Yet, the data indicate that Maine has lost 0.5 percent of its manufacturing jobs between June 2022 and June 2023, per CBS News.
In other words, Biden can call the economy whatever he wants — but the facts speak for themselves. We’re all “struggling” under Bidenomics.
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