In a major speech on the economy, Biden said his administration’s efforts were sparking a recovery after Republican policies that have hit the middle class.
However, a new poll showed that only 34% of adults approve of his economic leadership. That figure is even lower than his overall approval rating, which stands at 41%, according to a poll by The Associated Press-NORC Center for Public Affairs Research.
Biden’s approval ratings have barely budged in the past year and a half, a source of concern for a president seeking re-election based on his ability to govern and make a positive difference to the country’s middle class and economy.
“Bidenomics is about the future,” Biden said of his economic policy. “Bidenomics is just another way of saying: restore the American dream.”
At the same time, he criticized the deep tax cuts implemented by the Republicans, saying that they helped the rich, but not the middle class.
“The trickle down approach failed the middle class,” he said. “He failed America. The deficit exploded. Inequity increased. And it weakened our infrastructure. He stripped the dignity, pride and hope of communities, one after another.”
Before leaving Washington on Wednesday, Biden assured that the country will avoid the recession that many economists foresee.
“Every month I hear that there will be a recession next month. I don’t think it will happen ”, he said.
In fact, the economy has steadily improved in the past year. Unemployment is at record lows at 3.7%. The inflation that has so punished the Biden presidency has fallen to 4% from a peak of 9.1% in June 2022, although it remains above the Federal Reserve’s target of 2%.
The poll identifies weakness in Biden’s own base. Many of the Democrats he needs to unite by 2024 are less enthusiastic about his economic record. Within his party, 72% overall approve of the job Biden does, but only 60% approve of his handling of the economy.
By comparison, at the height of the pandemic when unemployment soared, Republicans overwhelmingly approved of then-President Donald Trump’s economic leadership. Now just 1 in 10 Republicans approve of Biden overall or on the economy, a testament to the polarization that defines American politics today.
Sarah Husted, 40, said she voted for Biden in 2020, though she “wasn’t thrilled with either candidate.”
Although she feels that inflation is worsening, especially in utilities and housing, she also largely believes that the economic turmoil still reflects the effects of the pandemic.
“I don’t think President Biden is helping the situation as much as he could, but I don’t think it’s all his fault,” said Hsuted, of Lincoln, Nebraska.
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The survey of 1,220 adults was conducted June 22-26 using a population-representative AmeriSpeak panel sample. The margin of error is plus or minus 3.9 percentage points.
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Zeke Miller contributed to this report.
FUENTE: Associated Press
