Biden’s approval falling to new lows

President Joe Biden’s approval is once again falling to new lows as Americans struggle with growing inflation and other economic stressors, according to CNBC.

According to a recent CNBC All-America Economic Survey Americans are harboring negative views about the economy, reflecting views of those who are going through an active recession.

“Amid soaring inflation, 47% of the public say the economy is ‘poor,’ the highest number in that category since 2012,” CNBC reported. “Only 17% rank the economy as excellent or good, the lowest since 2014.”

Just one in five Americans describe their personal financial situation as one where they believe they are “getting ahead” and it’s the weakest show of personal gains for Americans in eight years.

Most say they’re “remaining in place,” and one in 10 say they are “falling backward.” However, 56% say they expect a recession in the next year and that’s typically a level only seen in an actual recession, according to experts.

“The angst was previously more about what was going to happen in the economy, and we’ve now shifted into a new place where we’re much more much pessimistic about what’s currently happening,” said Micah Roberts, a partner at Public Opinion Strategies and the Republican pollster for the survey. “There’s no overwriting the pessimism in this survey. It is on every page, and it is inescapable.”

However, Biden seems to be taking the brunt of the blame and Jay Campbell, partner at Hart Research and the Democratic pollster for the survey, said the problem for Biden is that the inflation issue is bipartisan.

“Cost of living has just blown everything else, including Covid, out of the water. And part of the reason for that is, there are attitudes about the economy that are largely a partisan phenomenon,″ he said. “That is not the case with inflation, or at least not right now. It is the top issue for Democrats, independents and Republicans.”

The survey was conducted on 800 Americans spread out nationwide and responses were gathered between April 7 through April 10 with an estimated margin of error of plus or minus 3.5%.