The majority of Americans believe that President Joe Biden’s mishandling is to blame for the country’s economic downturn.
Released on Wednesday, a Harris surveys conducted for the Guardian , newspaper , indicates that almost three in five American believe the U. S. is already in an economic downturn. A majority of responders, 58 percentage, attribute the perceived economic problems to what they see as incompetence by the Biden administration.
Despite government reports that the economy has been expanding since the second half of 2022, 56 % of respondents believe the country is in recession and 56 % believe the economy is shrinking.
The benefits are not just a representation of social politics. While Republicans are more likely to say we’re in a crisis, almost half of Liberals even say we’re in a crisis. The surveys found that 67 percent of Republicans say the U. S. is in a crisis, as do 49 percent of Democrats and 53 percent of politicians.
The poll also raises a significant issue with inflation, with 72 % of respondents saying they are concerned about rising prices. And the fears transcend party lines. Eighty percent of Republicans say inflation is rising, as do 74 percentage of politicians and 60 percent of Democrats.
According to the statistics, Americans are saying that although things are improving, there is no such thing as good. It takes time to unwind four decades of confusion. Leaders have to understand this and bring the public along” , , John Gerzema, CEO of the Harris Poll, told the , Guardian.
The Federal Reserve’s efforts to control the Biden market through interest rate increases have been a focus of the Biden economy’s consistent prices. Inflation has increased again in the first three months of this year after reaching its peak of 9 % in 2022. A small drop in prices in April, however, revived expectations that the Fed did cut interest rates this season, giving a boost to share prices.
However, consumer confidence fell to a six- month reduced in May, reflecting continued uncertainty about the financial future.
According to the , Guardian surveys, 77 % of Americans said the cost of living was their main source of concern. Inflation is the major issue for 86 percent of respondents.
The , Guardian’s poll , indicated that Americans are finding it difficult to get cheered by great financial information about small employment or economic development. A super-majority of the people in favor of the statement,” It’s hard to be happy about positive financial news when I feel financially slack each month,” and that the market is worse than the media reports suggest. Sixty percentage of the general public says they are wary about financial news from the internet.
Despite efforts to promote” Bidenomics”, many Americans believe that Biden’s policies are hurting the economy. Seventy- percentage of Democrats and 39 percent of Democrats say Biden’s plans are making issues worse, the , Guardian , information.
