CNN: “Americans disapprove of President Biden’s handling of this [the economy] more than ever before.” pic.twitter.com/mz6o0gWksA
— The Post Millennial (@TPostMillennial) May 4, 2022
Biden’s rating on the economy, the most important issue, seems to impact how Americans view the nation. Only two percent say the nation is doing “very well.” In contrast, 20 percent said the nation is doing “very badly,” an 18-point difference.
During Biden’s presidency, only five percent of respondents have marked Biden’s America as doing “very well.” Biden’s mark is well below Donald Trump’s. Before the coronavirus, 21 percent of Americans said the nation was doing “very well,” up from five percent in Obama’s last month as president.
Not many trust Biden’s economic agenda of spending vast amounts of money is helping the economy. Seventy-three percent say Biden is doing too little to address the current economic conditions. Less than a quarter of respondents said Biden was doing just the “right amount.”
In 2021, Biden passed the costly $1 trillion infrastructure package and $1.9 trillion coronavirus package, which some economists say fueled inflation. Economists have predicted a 50/50 chance of a recession in the coming months and into 2023.
The Federal Reserve on Wednesday announced it was raising interest rates a half a percentage point to fight inflation. The fed has not raised interest rates to such a degree in more than two decades.