Biden’s support fades quickly, as CNBC investigation reveals concerns over economy, Covid and inflation – .

Biden’s support fades quickly, as CNBC investigation reveals concerns over economy, Covid and inflation – .

President Joe Biden’s approval rating slipped deeply underwater in the CNBC All-America Economic Inquiry as Americans soured on his economic leadership, lost some confidence in his handling of the coronavirus, and became increasingly concerned about inflation and supply shortages.
Only 41% of the public approve of Biden’s management for president, compared to 52% who disapprove. The poll of 800 Americans, conducted Oct. 14-17, has a 3.5% margin of error.

Biden’s negative net score of 11 points versus 3 positive points in the July survey, when 48% approved and 45% disapproved.

Behind the drop is an increase in negative opinions about its management of the economy, with just 40% approval and 54% disapproval, a 7 point increase from July.

A slim majority of Americans still approve of his handling of the coronavirus, but the margin has shrunk considerably. Fifty percent now approve, down from 53% in July, and 45% disapprove, down from just 38%.

The president’s numbers are down as concerns about the economy, inflation and supply shortages rise sharply.

Inflation is now linked to the coronavirus as a top concern for Americans, up 16 points from the previous survey. A plurality of 47% of the public believe there will be a recession next year, up 13 points from the last question asked in 2019.

“In the last quarter, the economic numbers were blinking yellow for Biden, but now it’s intensified and the light is blinking red, and it’s accompanied by several howling sirens,” said Micah Roberts, Partner of Public Opinion Strategies , the Republican pollster for the survey.

Worries about the recession are accompanied by increasingly negative opinions about the current and future state of the economy: 46% say the economy will worsen in the coming year, the biggest number in the 13-year history of the survey and 79% judge the economy to be fair or poor, the most since 2014.

U.S. President Joe Biden speaks about efforts to address bottlenecks in the global transportation supply chain, in the East Room of the White House in Washington, DC on October 13, 2021.
Nicolas Kamm | AFP | Getty Images
Only 31% say now is the time to invest in stocks, the lowest since 2016.
Jay Campbell, partner of Hart Research Associates, the Democratic poll pollster, points out that Biden’s coronavirus figures are particularly concerning because he believes Biden’s perceived ability to cope with the pandemic was a major reason for his election.

“If the economy doesn’t get back on track and the coronavirus doesn’t change course at some point, then it’s a presidency that’s going to have real problems,” he said.

The survey clearly shows that Americans are noticing the supply and labor shortages plaguing businesses. Some 60% of the public say goods that were once easy to buy are scarce, including food and groceries, paper products and cleaning supplies.

Additionally, 66% appear to have noticed labor shortages, claiming to have seen stores closed on odd days or at odd times when they would normally be open.

The only good news for the president in the poll is that a plurality of Americans are backing a plan in Congress that would increase spending on child care, clean energy, community colleges and long-term care. seniors.

The survey revealed that 41% of those questioned support the measure, 30% oppose it and 29% say they do not know enough to answer. A 51% majority support the plan when told that the cost of the plan is between $ 1.5 and $ 2.2 trillion. And 57% support the bill when told it will be paid by raising taxes on corporations and those who earn more than $ 400,000 a year.

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