Vast Majority of Americans Say Economy Isn’t Good Under Biden

Nearly three out of four Americans say the economy isn’t doing well on President Joe Biden’s watch, according to a recent Economist/YouGov poll, while a separate survey showed that a record share of Americans believe the country’s best years are behind us.

The Economist/YouGov poll (pdf) shows that just 22 percent of Americans think the state of the economy is excellent or good, while a whopping 73 percent think it’s fair or poor.

Asked whether they approve of Biden’s handling of jobs and the economy, a greater share (48 percent vs. 42 percent) said they disapprove.

More gloom was expressed by people responding to a recent NBC poll, which showed that 74 percent of Americans believe the country is on the wrong track.

NBC anchor Chuck Todd revealed the numbers on Sunday’s edition of “Meet the Press,” telling the audience that this figure has now stayed above 70 percent for nearly a year, the longest stretch in the history of the poll.

‘Severe Recession’ or ‘Mild Dowturn’?

The pessimistic readings come amid growing fears of a sharp economic downturn as persistently high inflation pressures the Federal Reserve to hold the course on aggressive monetary policy tightening.

Some prominent economists have warned of a U.S. recession that could be long and severe, with economist Nouriel Roubini recently describing analysts’ predictions for a short and mild economic downturn as “delusional.”

Roubini told Bloomberg in a recent interview that he expects the United States to be hit by a “severe recession and a severe debt and financial crisis.”

Some analysts reject the outlook for a long and severe recession, with Bank of America Chief Economist Michael Gapen telling Fox News in a recent interview that he expects a “mild downturn.”

The recessionary drumbeat got louder last week as a key economic gauge from the Conference Board dropped for the fifth month in

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