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President touts ‘Bidenomics’ though new poll shows just 34% approve his handling of the economy

by Gabriel Martinez
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economic approval

President Joe Biden attempted to promote his economic policies, referred to as “Bidenomics,” despite facing a challenging public reception, as indicated by a recent poll that showed only 34% of respondents approved of his handling of the economy. This figure was even lower than his overall approval rating of 41%, according to The Big Big News-NORC Center for Public Affairs Research survey.

During a significant economic speech in Chicago, Biden highlighted his administration’s efforts to stimulate recovery after what he described as the detrimental impact of Republican policies on America’s middle class. However, the poll revealed that only one in three adults in the United States approved of his economic leadership.

The stagnant approval ratings, which have remained relatively unchanged for the past year and a half, raise concerns for a president seeking a second term, emphasizing his ability to govern and address the needs of the workforce. Biden aims to connect infrastructure projects, manufacturing developments, and the expansion of electric vehicles and renewable energy to the multimillion-dollar initiatives signed into law during the initial two years of his administration.

In his speech, Biden emphasized that “Bidenomics” is about the future and is synonymous with restoring the American dream. He also criticized previous Republican tax cuts, arguing that they primarily benefited the wealthy and neglected the middle class, failing to deliver the promised “trickle-down” benefits.

While departing from Washington, Biden expressed confidence that the United States would avoid an anticipated recession, despite claims from Republican leaders that high inflation during his presidency indicated a recession. The economy has shown consistent improvement throughout Biden’s tenure, with consumer confidence reaching its highest level since January 2022, unemployment remaining historically low at 3.7%, and inflation decreasing to 4% from a peak of 9.1% in June of the previous year.

Nevertheless, rising prices and concerns about inflation exceeding the Federal Reserve’s target of 2% remain worrisome for voters and a potential point of attack for Republican lawmakers and other presidential candidates. The recent poll also identified a weakness within Biden’s own base, as many Democrats who supported him in 2020 expressed comparatively lukewarm approval of his economic record.

Respondents who voted for Biden acknowledged the challenges he faces, including partisan divisions, global competition, and the lingering effects of the pandemic. Some believed that Biden was doing his best with the circumstances at hand, while others highlighted positive aspects such as job growth and the potential benefits of infrastructure spending.

The Biden administration aims to leverage data and a consistent message to change public perception of the economy. By presenting the president’s accomplishments and contrasting them with Republican proposals to dismantle those initiatives, Biden’s team hopes to increase appreciation of his policies among Democratic voters for the upcoming 2024 elections.

The poll was conducted from June 22 to 26, surveying 1,220 adults. The margin of sampling error for all respondents is plus or minus 3.9 percentage points.

Frequently Asked Questions (FAQs) about economic approval

What is “Bidenomics” and how is President Biden promoting it?

“Bidenomics” refers to the economic policies promoted by President Joe Biden. He claims that his administration’s efforts are sparking recovery and aims to restore the American dream. However, a recent poll shows that only 34% of adults approve of his handling of the economy.

How do Republicans and Democrats view President Biden’s economic record?

During the depths of the pandemic, Republicans overwhelmingly approved of then-President Donald Trump’s economic leadership. However, currently, only about 1 in 10 Republicans approve of Biden’s overall performance or his handling of the economy. Among Democrats, 72% approve of his job overall, but only 60% approve of his handling of the economy.

How has the economy fared during President Biden’s term?

The economy has steadily improved during President Biden’s tenure. Consumer confidence has reached its highest level since January 2022, and unemployment stands near a historic low at 3.7%. Inflation, which was a concern, has fallen to 4% from its peak of 9.1% in June of the previous year. However, prices are still rising faster than the Federal Reserve’s target of 2%.

What are the concerns regarding President Biden’s economic policies?

One major concern is the public’s perception of the economy, as indicated by the poll showing only 34% approval of Biden’s economic leadership. Rising prices and inflation exceeding the target are also worrisome for voters. Additionally, the poll revealed that many Democrats who supported Biden in 2020 have lukewarm approval of his economic record.

How does President Biden plan to address the public’s concerns and promote his policies?

President Biden aims to generate greater awareness of his policies and increase appreciation of the economy among Democratic voters. He plans to tour the U.S. over the next three weeks, reinforcing a consistent message about his accomplishments and contrasting them with GOP proposals to dismantle his initiatives. The administration believes that repetition and data-driven arguments can change public perception.

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