Washington, D.C. While his administration works to project stability while dealing with two bank collapses and inflation that has remained persistently high, President Joe Biden’s approval has decreased marginally since a month ago, approaching the lowest point of his term.
This is supported by a recent poll from The Associated Press-NORC Center for Public Affairs Research, which reveals that Biden’s support has fluctuated little over the past few months. In the most recent poll, 38% of respondents indicated they approved of the president, down from 45% in February and 41% in January. Last July, as the full impact of rising food, gas, and other prices started to strike American households, his approval ratings fell to their lowest point of his presidency, to 36%.
Biden’s approval rating had been above 40% in recent months.
Biden, who is anticipated to declare a reelection candidacy this summer, has drawn mixed reactions from the public, according to interviews with survey respondents. People rarely exhibit the extremes of unwavering loyalty and ferocious hatred that have characterized this era’s split politics regarding the president.
Andrew Dwyer, 30, described his opinion of Biden as “neutral toward approve.” “I don’t think he does the best job of expressing my views and problems. But I am aware that compromises are part of being president.
Data analyst Dwyer from Milwaukee claimed to be a lefty and to have voted for the president in 2020. He admitted that the Silicon Valley Bank and Signature Bank had recently failed. Still, he asserted that the economy is adjusting to the higher interest rates that the Federal Reserve has set to fight inflation.
We all became accustomed to low-cost loans and having access to unlimited resources, according to Dwyer. Notwithstanding the “pain points” brought on by higher borrowing prices, he believes the process will “ultimately” result in a more robust economy.
With his $1.9 trillion coronavirus relief program from 2021, infrastructure projects, support for computer chip factories, taxes on companies and the rich to help pay for health care, and a move from fossil fuels, the president has taken bold initiatives to strengthen the U.S. economy.
Nevertheless, those initiatives include multiyear investments that still need to give the public, which is already grappling with 6% annual inflation, any cause for confidence. The president and other administration representatives have traveled the nation to highlight their accomplishments. Yet, many people feel that the economy may be on a knife edge due to the recent bank failures and the standoff over the debt ceiling with House Speaker Kevin McCarthy, a Republican from California, which could result in the U.S. government defaulting.
Only 31% of people, roughly where they have been over the past year, think Biden is doing a good job managing the country’s economy. From late 2021, when the administration’s recommended temporary inflation became a major pain factor for businesses and households, his management of the country’s economic fortunes has been a weakness.
51-year-old Republican Michael McComas said of Biden, “Not terrific — ordinary, I guess.” A Westland, Michigan resident, he pointed out that it will take time to assess whether federal infrastructure funding lives up to Biden’s promises.
In response to a reporter’s question, Biden denied McComas’s assertion that government spending on the epidemic is directly responsible for inflation.
The fact that we were surprised to experience inflation when many of our policies were inflationary is somewhat frustrating, given the amount of money we invested in the system, according to McComas.
Democrats are largely responsible for the disparity between Biden’s overall and economic approval ratings, with 76% of them saying they approve of how he is performing his job as president compared to 63% of them saying the same about the economy. Republicans are often divided on their opinions on Biden.
Democrats under 45 have lower approval ratings for Biden, which lowers his numbers. Just 54% of Americans agree with the president’s handling of the economy, compared to 72% of Democrats over 45. Similarly, only 66% of Democrats under the age of 45 support Biden overall, as opposed to 85% of Democrats over the age of 45.
According to the poll, only a quarter of Americans believe that the economy is strong or that the nation is moving correctly. These figures have also just marginally changed during the last few months.
Biden’s handling of foreign affairs (39%) and climate change (41%) is rated similarly to how he is placed overall. Regarding foreign policy, 74% of Democrats and 9% of Republicans support Biden, while 67% of Democrats and 17% of Republicans support his stance on climate change.
Theresa Ojuro, a 29-year-old Rochester, New York, Ph.D. student, said she “anticipated more” from Biden — “just a little bit more stability with the economy.” Ojuro, who supported Biden in the 2020 election, also stated that the bank collapses are depressing her mood. However, she is concerned about New York state’s high taxes compared to the benefits received.
“If Biden is doing his job, why can you see people actually suffering in a state like this?” stated Ojuro.
