In a challenging turn of events for President Joe Biden, recent polls indicate that only 14% of American voters feel financially better off under his administration. This staggering revelation has triggered internal strife among Democrats, with some reportedly advising the President to discard “Bidenomics” into the metaphorical dumpster. As Democrats grapple with infighting, Biden faces an uphill battle to persuade voters of his merits for a potential reelection

Calls to Dump ‘Bidenomics’ Grow Louder”

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“Perhaps the most overwhelming economic messaging advice I picked up from Democrats was for him to heave ‘Bidenomics’ into the dumpster,” noted Politico’s Jonathan Martin, reflecting the palpable discontent within Democratic ranks.

Biden’s Economic Vision

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Bidenomics, as defined by the White House, aims to address longstanding challenges such as rising inequality and disinvestment from communities across the country.

A Striking Divide Between Agenda and Public Opinion

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However, the recent poll results suggest a significant disconnect between the President’s economic agenda and public sentiment.

Nearly 70% of Voters See Bidenomics as Harmful or Ineffectual

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The poll, conducted for the Financial Times and the University of Michigan’s Ross School of Business, reveals that almost 70% of voters believe Biden’s economic policies have either harmed the U.S. economy or had no impact. 

Bidenomics under Fire

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Of this, 33% specifically state that the policies have “hurt the economy a lot,” while only 26% believe they have been beneficial.

These figures underscore a growing skepticism regarding the effectiveness of Biden’s economic strategies.

Cutting Back Amid Growth

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The ongoing issue of rising inflation further clouds the perception of “Bidenomics.” Regardless of record job growth and nearly three years of economic expansion under Biden, 65% of voters admit to cutting back on non-essential spending, citing concerns about increasing prices for everyday goods and services.

Erik Gordon’s Warning

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Erik Gordon, a professor at Michigan’s Ross School, highlights the significance of rising prices as a major economic threat across party lines. 

Rising Prices Threaten Both Parties’ Economic Outlook

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He notes, “Every group – Democrats, Republicans and independents – list rising prices as by far the biggest economic threat and the biggest source of financial stress.” 

Time Is Ticking

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This poses a substantial challenge for Biden, especially considering the limited timeframe to reverse the inflationary perception before election day.

Biden Faces Uphill Battle to Reverse Public Perception

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The persistent problem of rising prices has prevailed throughout Biden’s tenure.

While inflation has decreased from its peak in the previous year, the latest figures show a 3.7% rise in the consumer price index in September compared to the same period last year, exceeding the Federal Reserve’s 2% target.

Over Half of Voters Unaware of Biden’s Economic Efforts

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Despite record jobs growth and economic expansion, more than half of the poll’s respondents (52%) claim to have heard “a little” or “nothing” about Biden’s efforts to improve the economy. 

Navigating the Complex Terrain of Public Opinion

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This suggests a potential communication gap between the administration and the public, adding another layer of complexity to the challenge Biden faces in convincing voters of his achievements.

Democrats Question Biden’s Suitability 

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The negative perception of Biden’s economic record has prompted internal discussions within the Democratic party about the suitability of Biden as their presidential nominee. 

Biden’s Economic Record Casts a Shadow

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Even as the party celebrates victories in recent off-year elections, the looming question of Biden’s effectiveness in economic matters continues to cast a shadow over his political future.

The post Biden’s Economic Policies Under Review – Public Opinion Divided, with a Small Percentage Feeling Financially Improved first appeared on Thrifty Guardian.

Featured Image Credit: Shutterstock / YASAMIN JAFARI TEHRANI.

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