President JoeBiden’s economic approval ratings have stagnated even as inflation decelerates and the economy continues to add jobs in large numbers, creating a puzzle for his allies, as well as an opportunity for his rivals.
The White House has embarked on a political blitz in recent weeks in promoting “Bidenomics,” an effort to highlight all of the positive spots in the economy while tethering the president to the good news. The hope is that voters will be persuaded to reelect Biden in 2024 if they begin to see the economy in a better light, but that has not happened yet.As of Wednesday, just 38.
Of course, inflation has soared throughout most of Biden's tenure, touching rates not seen since the Great Inflation of the 1960s and 1970s. It's clear the public soured on Biden's economic stewardship because households saw their expenses rise across the board. One leading theory for why Biden's ratings haven't gotten a boost is the recent improvements may not have filtered down to voters yet and that it might take some time for Biden’s economic approval ratings to show any improvement from the good news in recent weeks and months.
“The economics are sticky, like once a story gets placed in, and people start internalizing it, it’s really tough to change their mind,” Burgat said. “And coming out of a pandemic, which everything was bad news for so long, and then inflation running at 40-year highs, and gas prices and the stock market going up and down all the time, just the uncertainty out there, painted a long picture that is really tough to paint over for a lot of voters.
Another example: Boneless chicken breast was going for an average of $3.26 per pound when Biden began his term but has since risen more than 28%. Likewise, the index price of a used car, as tracked by CarGurus, was $22,807 in January 2021 but is now $29,542, representing an increase of nearly 30%. "We are working to ensure the American people know how the president’s agenda is delivering for them by bringing jobs and pride back to forgotten communities, lowering costs and helping small businesses by promoting competition, and empowering workers who were failed by trickle-down Republican presidents and congressional Republicans," the official said.
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