Despite a slight uptick following efforts to promote his economic agenda, known as “Bidenomics,” President Joe Biden’s economic approval ratings remain modest at just 37%, according to the recent CNBC All-America Economic Survey.
The report indicates that 58% of respondents disapprove of his handling of the economy, albeit a 4-point drop from the April survey.
This 21-point net-negative rating marks a significant improvement from the 34-point deficit recorded last year.
Jay Campbell, a partner at Hart Research, described the lukewarm increase in the president’s approval rating, noting, “I think it’s some combination of the messaging (and) of people possibly legitimately starting to think that the economy is not quite as bad anymore,” CNBC noted.
However, Campbell emphasized that these numbers merely signify that Americans perceive the economic situation as “a little less horrible than they have been,” with no conclusive evidence to indicate a positive trend.
The study, conducted between July 12-16 with a margin of error of +/- 3.1%, polled 1,000 adults, and revealed that inflation is currently the leading issue for 30% of respondents.
This figure is more than twice as high as other concerns such as threats to democracy, immigration and border security, healthcare, and crime.
Notably, Biden’s overall approval rating remained stagnant at 39%, with 55% disapproving.
Americans continue to be burdened by higher costs for goods and services due to persistent inflation.
Consequently, respondents showed a substantial preference for Republicans on key economic matters such as the economy, inflation, and improving personal finances.
Micah Roberts, a partner at Public Opinion Strategies, noted, “Those are very broad, very important parts of economic confidence. That the Republicans have double digit leads … helps to understand and underpin the deficiencies that Biden has in those areas and on the economy broadly.”
Echoing this sentiment, Campbell added, “This is a tough set of results for Democrats at this moment… It shows the degree to which Biden and the Democrats are really going to have to work very hard to make their case that they are better suited to run the economy going forward for the next four years.”
