(RSBN) A new poll from ABC News/Ipsos has found that only one percent of Americans would describe Joe Biden’s current American economy as “excellent.” In comparison, only 23 percent considered it “good,” according to a report from Breitbart News. Additionally, 75 percent of Americans polled chose to describe the economy as “poor.”
Biden’s approval rating in the United States has steadily declined since he took office in January 2021, taking a severe nosedive in February 2022 with a loss of support among his base, Democrat voters.
As previously reported by RSBN, a new SSRS survey found in February that 51 percent of Democrats and blue-leaning independents would prefer to see a candidate other than Joe Biden nominated as a presidential candidate in 2024.
Further, RSBN reported in February that inflation hit a 40-year high in America just one year after President Donald Trump left the White House, with a 7.5 percent rise in consumer prices.
On Thursday, Joe Biden announced additional “strong sanctions” that he would be imposing on Russia to punish them for their aggression toward Ukraine. Many speculate that this will have disastrous consequences for the American economy, which is already buckling under the weight of hyperinflation and unemployment driven by vaccine mandate-related layoffs.
Reuters has also reported that oil prices jumped to more than $105 per barrel for the first time since 2014 in light of Thursday’s events. Oil prices have erratically continued to rise and fall as Russia’s invasion into Ukraine continues, and Biden’s administration responds with more sanctions.
According to the Breitbart report, housing and renting costs in the United States have increased by 40 percent. The Labor Department revealed the average American worker is taking a 2.4 percent pay decrease in their paycheck.
In light of statistics like this, it’s no wonder that only one percent of Americans consider Joe Biden’s economy “excellent.”