The majority of US voters disapprove of Joe Biden’s economic policies, according to a recent survey.
Chip Somodevilla/Getty Images
“Bidenomics” isn’t winning over US voters, according to a Wall Street Journal survey.
Nearly 60% of respondents told the outlet they disapproved of the President’s economic policies.
That’s despite inflation cooling and unemployment holding steady in recent months.
“Bidenomics” isn’t winning over US voters, according to a recent poll, despite inflation cooling and the jobs market holding steady in recent months.
The Wall Street Journal surveyed 1,500 voters on August 24 and found that 59% of Americans disapprove of the job Joe Biden is doing on the economy, with just 37% saying they approved the President’s policies.
Meanwhile, 63% of voters disapproved of Biden’s track record on reining in inflation and rising costs, while 57% weren’t happy about how he has dealt with China during his time in office.
The poll, conducted just 14-and-a-half months ahead of the 2024 Presidential election, comes at a time when much of Wall Street is shifting its view on the economy after a better-than-expected 2023 that’s seen inflation cool away from four-decade highs, unemployment hold steady at under 4%, and second-quarter growth beat forecasters’ predictions.
In July, Biden touted cooling inflation as “Bidenomics in action” – although his administration has had a helping hand from the Federal Reserve, which has hiked interest rates from near-zero to around 5.5% over the past 18 months in a bid to tame soaring prices.
On Labor Day, the President also pointed to the fact that the US added another 190,000 jobs in August’s Non-Farm Payrolls report as evidence of his strong economic track record.
“As we head into Labor Day, we ought to take a step back and take note of the fact that America is now in one of the strongest job-creating periods in our history – in the history of our country,” he told a crowd in Pennsylvania.
“And it wasn’t that long ago that America was losing jobs. In fact, my predecessor was one of only two presidents in history who entered his presidency and left with fewer jobs than when he entered,” Biden added, taking a swipe at his predecessor Donald Trump.
As well as showing their disapproval of Biden’s economic policies, 73% of the voters surveyed by the Journal said they felt the 80-year-old was too old to campaign for a second term.
Just 47% said the same of Trump, who is three years younger than Biden.