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According to a CNBC survey released on Tuesday, 69 percent of Americans have negative opinions about the U.S. economy both currently and in the future.

In the seventeen-year history of CNBC’s All-America Economic Poll, which is based on a countrywide survey of 1,000 individuals, this is the largest percentage of Americans with negative opinions about the economy.

President Joe Biden’s support is suffering due to the pessimistic outlook for the economy. Compared to the November survey, his overall popularity rating dropped two points to 39% in the most recent poll. In a single-point increase over the November survey, 55% of respondents say they disapprove of Biden.

Americans disapprove of Biden’s handling of the economy specifically by a margin of 62 to 34 percent. This was 57 percent to 38 percent in the November study, meaning Biden has made less progress in this area.

Just 27% of independents still approve of Biden, a nine-point decline. Even among Democrats, where 77 percent said they approved, he dropped two points.

Biden’s popularity rating among women between the ages of 18 and 49, a crucial Democratic base, dropped by 13 points to just 34%.

Only 5% of Americans claim that their income is increasing more quickly than inflation. 26 percent of people claim that their household income is keeping up with the cost of living. Sixty-seven percent of respondents claimed they are lagging.

The lowest response rate in the survey’s history, at just 24%, says that the present is a good time to buy equities. The previous record was 26 percent in the previous quarter.

Author: Blake Ambrose

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