In the CNBC National Economic Survey, President Joe Biden’s approval rating dropped sharply because Americans were dissatisfied with his economic leadership, lost some confidence in the way he handled the coronavirus, and became increasingly worried about inflation and supply. shortage.
Only 41% of the public agreed with Biden’s handling of the presidency, while 52% opposed it. The margin of error in the opinion poll of 800 Americans from October 14th to 17th was 3.5%.
Biden’s net rating was negative 11 percentage points, while the July survey was positive 3 percentage points. At that time, 48% of people agreed and 45% disapproved.
Behind the decline is a surge in negative views on his handling of the economy, with only 40% of support and 54% of opposition, an increase of 7 percentage points from July.
Almost most Americans still approve of his handling of the coronavirus, but the gap has greatly narrowed. Now 50% of people agree, compared with 53% in July, 45% of people disagree, and only 38%.
As concerns about the economy, inflation, and supply shortages have risen sharply, the president’s numbers are falling.
Inflation is now related to the coronavirus and is the most concerned issue for Americans, which is an increase of 16 percentage points from the previous survey. Most 47% of the public believe that there will be a recession next year, which is an increase of 13 percentage points from the last time this issue was raised in 2019.
Micah Roberts, partner of Public Opinion Strategies, a Republican polling agency, said: “Last quarter, Biden’s economic data flashed yellow, but now this situation has intensified. The lights flashed red and accompanied by Multiple harsh sirens.”
The fear of recession is accompanied by increasingly negative views of current and future economic conditions: 46% of people said the economy will get worse in the coming year, which is the most in the 13-year history of opinion polls, 79% of people Believing that the economy is fair or poor is the most since 2014.
US President Joe Biden discusses efforts to resolve bottlenecks in the global transportation supply chain in the East Room of the White House in Washington, DC on October 13, 2021.
Nicholas Cam | AFP | Getty Images
Only 31% said that now is a good time to invest in stocks, which is the lowest level since 2016.
Jay Campbell, a partner of the Hart Research Association, a Democratic polling agency for the survey, pointed out that Biden’s figures on the coronavirus are particularly worrying because he believes that Biden’s ability to respond to the pandemic was the main reason for his election.
He said: “If the economy can’t get back on track, and the coronavirus won’t be reversed anytime soon, then this president will be in real trouble.”
The survey clearly shows that Americans are aware of the supply and labor shortages that plague companies. Approximately 60% of the public said that the once easily available products are in short supply, including food and groceries, paper products and cleaning products.
In addition, 66% of respondents seem to have noticed labor shortages, saying they have experienced store closures during odd days or strange times during normal business operations.
In the polls, the mild good news for the president is that most Americans support a plan submitted to Congress that will increase spending on childcare, clean energy, community colleges, and long-term care for the elderly.
The survey found that 41% of respondents supported the measure, 30% opposed it, and 29% said they did not know the answer. When told that the cost of the plan was between 1.5 and 2.2 trillion U.S. dollars, a majority of 51% supported the plan. When told that it would be paid by increasing taxes on companies and people with annual income of more than $400,000, 57% of people supported the bill.
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