In a revealing turn of events, a poll published on Monday has shed light on the daunting economic predicament President Joe Biden’s re-election campaign faces. An alarmingly paltry 14% of voters believe that his policies have improved their financial situation. According to the same survey, nearly 70% expressed the view that President Biden’s economic policies have either had a detrimental impact on the U.S. economy or none at all. This includes a third who firmly stated they believed his policies had ‘considerably injured the economy.’
Just 14% of Americans say they’re better off financially today than when Biden took office.
That’s Bidenomics! pic.twitter.com/wPzyCBX6dK
— RNC Research (@RNCResearch) November 13, 2023
This striking data emerges after several polls indicated President Biden’s steady loss to his likely Republican opponent, former President Donald Trump, in pivotal battlegrounds that could determine the outcome of the 2024 election. Despite these figures, Biden’s campaign has insisted that the true test resides in what voters decide at the polling station, underscoring Democratic victories in previous week’s elections.
Even faced with these hard facts, President Biden’s administration maintains they are successfully steering the economy towards a prosperous path by reducing inflation from the astronomical post-pandemic surges above 9%. The President himself has repeatedly endorsed ‘Bidenonomics’, an initiative aiming to rejuvenate the country’s industrial sector and provide well-paid jobs.
But a recent monthly poll from the Financial Times and the University of Michigan’s Ross School of Business implies a significant portion of voters disagrees with the positive economic narrative the Biden administration are hailing. Only 26% of the surveyed 1,004 registered voters believed Biden’s policies had a positive impact. Financial stress, for the majority surveyed, stood at 82%, was attributed to price hikes.
This is undoubtedly a disappointing blow for Biden, particularly considering the limited leverage he possesses to refute the public’s perception of high prices before election day. To spin it holistically, this could be critical evidence of a disconnect between ‘Bidenomics’ and the real-life consequences American citizens face today.
Despite these ominous survey results, Biden’s camp has labelled these polls as irrelevant ‘noise’ and drawn parallels to the negative press former President Obama faced a year before his highly successful re-election in 2012. Michael Tyler, the Biden-Harris 2024 Communications Director, assured fellow Democrats last week that “Joe Biden has been counted out time and time again and proved pollsters and pundits wrong. Now is the time to put our heads down, execute, and bring this thing home one year from now.”
In conclusion, these poll results underscore a significant challenge for Biden’s reelection: the perceptible gap between voters’ economic reality and his administration’s optimistic narrative. While polls are not definitive predictors of election outcomes, they do serve as a pulse check for the current sentiment among voters. As the President and his team face these critical challenges, they would do well to heed the signals sent by these poll results. After all, it is these voters who will ultimately decide their fate one year from now. Who knows, this time the underdog might not have the same narrative.