As we stare down the barrel of the 2024 election, a vast majority of voters reckon President Joe Biden's economic policies are on shaky ground. The Harvard CAPS / Harris Poll, published Monday, unleashed this worrying news. The data couldn't have come at a worse time for Biden, who's prepping for another run at the White House.
These findings throw a wrench into Biden's plans. His efforts to leverage his "Bidenomics" strategy ahead of the upcoming campaign seem to be going off the rails. The future now looks uncertain. Now, he's left juggling his reelection ambitions and grappling with disheartening public opinion.
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Here's the kicker: around 57% of Americans think Biden's taking the country down the wrong financial path. Inflation's just adding fuel to the fire. People from all walks of life feel the burn of rising prices.
It's a tough pill to swallow. But this is the reality Biden has to face.
His economic strategies aren't sitting well with the majority. The news that inflation is hitting everyone only makes it harder to swallow.
The US President was at a Philly Shipyard event in Pennsylvania on July 20, 2023. But even his attempt at rebranding economic policies didn't convince the public that the economy's on the upswing. It seems, Biden's efforts were akin to rearranging deck chairs on the Titanic.
The man himself, Mark Penn, Co-Director of the Harvard CAPS / Harris Poll, and Stagwell Chairman and CEO, had something to say on the matter. Let's just say his words didn't exactly bring rays of sunshine.
“Inflation remains the elephant in the room and you can’t talk Americans out of their negative feelings about the economy,” Penn said.
Here's the lowdown on the poll findings. The situation can only be described as "Bidenomics" facing an uphill battle. With a staggering 57% thinking Biden's economic policies aren't hitting the mark, things look gloomy. More worryingly, 56% think Republicans in Congress understand Americans' economic woes better than Biden.
Inflation, the stealthy thief in the night, is impacting Americans indiscriminately.
An overwhelming 76% of voters say inflation has made a dent in their family's finances. Guess what's being hit the hardest? Groceries. Nearly half of the voters (49%) chose this as the area most impacted.
In a twist of irony, 60% of voters think the inflation rate is continuing to increase, which is not the case. Seems like perception and reality aren't seeing eye to eye here. A clear disconnect that shows just how deep-seated the economic concern is among the populace.
For Biden to win back public trust, voters suggest he needs to stabilize inflation. This is the majority opinion, regardless of party lines. The second-most popular choice? Cutting federal spending. Sounds like the president has his work cut out for him.
The poll surveyed 2,090 registered voters online within the United States from July 19-20, 2023.
It's déjà vu all over again. This isn't the first time Americans have questioned their economic stability under Biden's leadership. The collective head-shaking continues despite the White House's firm belief in economic improvement.
Here's a quick recap:
* Majority of voters believe Biden's economic policies are subpar.
* Biden's rebranding efforts failed to sway public opinion.
* 57% of voters feel Biden isn't leading the country in the right financial direction.
* Inflation is the elephant in the room impacting 76% of American families.
* The most affected area is groceries, according to 49% of voters.
* 60% of voters incorrectly believe that the inflation rate is still increasing.
* To regain confidence, Biden must stabilize inflation and consider cutting federal spending.
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