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

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

More about economic approval

• President Biden’s Economic Plan: What Is “Bidenomics”? – White House article explaining President Biden’s economic plan, known as “Bidenomics.”
• Poll: Biden’s Handling of the Economy – Associated Press article discussing the poll results on President Biden’s approval of his handling of the economy.
• Consumer Confidence Index – The Conference Board’s data on consumer confidence levels, indicating the highest level since January 2022.
• Inflation and Consumer Prices – Bureau of Labor Statistics data on inflation and consumer prices, providing insights into the economic trends during President Biden’s term.
• White House Fact Sheet: The American Jobs Plan – White House fact sheet outlining the American Jobs Plan, a major infrastructure initiative signed into law by President Biden.
• NORC Center for Public Affairs Research – Information about the NORC Center for Public Affairs Research, which conducted the poll mentioned in the text.