The most recent Rasmussen Reports survey finds that 52% of likely U.S. voters say the United States economy has deteriorated under President Joe Biden. In comparison, 31% say it has improved, 14% say it’s flat.
In comparison, in a Labor Day speech, the president declared the success of “Bidenomics” and said he has “created more jobs in two years than any president has created in a four-year term.”
The U.S. job market remains strong, and the Consumer Price Index (CPI) has dropped from a high of over 9% in June 2022 to 3.2% in July.
The Federal Reserve has raised interest rates substantially, affecting mortgages and borrowing costs.
Unlike the over 2% reported GDP, gross domestic income only grew in real terms at 0.5%.
According to Rasmussen, while 51% of Democrats said they believe the economy has improved under the president, that opinion is only shared by 28% of unaffiliated voters and 12% of Republicans.
Majorities of both Republicans, 79%, and unaffiliated voters, 55%, in the survey say the economy has deteriorated since President Biden became president, and 25% of Democrats are in agreement.
The president gets the blame for the economy from 42% of the survey’s likely voters; 29% say Congressional Republicans deserve more blame, and 19% say Democrats in Congress are more to blame. An additional 10% are undecided.
GOP members are likelier to blame Biden for the economy, while Dems tend to blame Congressional Republicans.
More male voters, 49%, than women voters, 36%, say President Biden deserves more blame for economic problems. Still, the majority of both women and men voters agree the economy has worsened since he took office.
Among white voters, 55% say the economy has depreciated since Biden became president, with 44% of black voters and 49% of other minorities saying the same thing.
Younger voters are less likely than their elders to say the economy has worsened under Biden
Voters younger than 40 are less likely than their elders to say the economy of the U.S. has worsened with the president in the White House. However, voters under 40 are also increasingly likely to blame Biden for the current economic problems.
Among voters who self-identify as conservative, 72% say the U.S. economy has worsened since Joe Biden became president, with 50% of moderates saying the same. But, only 19% of liberal voters share the opinion, and a majority, 59%, say the economy has improved during Biden’s presidency.
Regarding income categories, 69% of individuals in the highest bracket — earning over $200,000 a year — say the economy has improved with President Biden in the White House, but fewer than a quarter of those with annual incomes below $50,000 share that outlook.
Rasmussen Reports conducted the survey on August 29-21 of 1,025 U.S. likely voters. The sampling error margin is +/- 3 percentage points with a 95% confidence level. Field work for all Rasmussen Reports surveys is conducted by Pulse Opinion Research.