President Biden has been traveling the country to promote his economic policies, which the White House says have produced better-than-expected GDP growth, low unemployment and a healthy stock market — all while inflation continues to cool. But according to recent polls, voters don’t share the president’s embrace of “Bidenomics,” as he’s sought to label his economic policies, or his rosy outlook. No matter what the economic statistics may say, a significant number of Americans appear to believe that things are going badly for them and their fellow citizens.
Asked how they would rate the condition of the economy, 65% of respondents in a new CBS News/YouGov survey said it is “bad,” while just 29% chose “good.” The job market got better reviews, with 46% saying it is in good shape. But even as the unemployment rate is hovering near a 50-year low, 43% of respondents reported that the job market is bad.
On specific economic issues, Biden did no better. Asked about the president’s handling of inflation, 70% said they disapprove, while 30% said they approve. Fifty-eight percent said they disapprove of Biden’s handling of jobs and employment issues, while 42% said the opposite. Overall, 66% said they disapprove of his handling of the economy.
Many respondents appear to blame the Biden administration for the inflationary surge that is still affecting the economy. Although the inflation rate has been falling, 45% said the administration’s policies are making inflation worse, with just 19% saying the policies were making inflation better. The remaining 36% said the policies had no impact (13%) or they weren’t sure (23%). Crucially, 70% said that inflation is outpacing their incomes.
More broadly, asked how they “feel things in America today are going,” 71% of respondents chose “very badly” (35%) or “somewhat badly” (36%).
Things don’t seem to be improving, either. Fifty-eight percent of respondents said the economy is getting worse, while 21% said it was getting better and 21% said it was staying about the same.
Another problematic finding for the White House: Not many people seem to know what “Bidenomics” is. Just 14% of respondents said they had heard a lot about it, while 27% said they had heard some things about it. But a majority (59%) said they had heard either not much (21%) or nothing at all (38%).
The bottom line: There’s a big gap between the recent, surprisingly strong economic reports and outlooks of millions of voters. Whatever the cause — and the persistence of inflation looks like a leading suspect — it’s clear that Biden has a lot of selling to do before he can convince voters that his policies are making things better for ordinary Americans.
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