President Joe Biden’s efforts to promote his handling of the U.S. economy, dubbed “Bidenomics,” have not resonated well with the American public, as evidenced by recent Gallup poll results. The poll, conducted between November 1 and November 21, showed Biden’s economic approval rating at a mere 32%, a significant decline from an earlier uptick in August where it reached 38%.
This decline in approval comes despite government data indicating a stabilization in inflation rates. October’s consumer price index showed no significant monthly increase and an annual rise of just 3.2%, close to the lowest rate since April 2021. However, this apparent improvement in inflation has not positively impacted the public’s perception of Biden’s economic management.
The poll reveals demographic variations in Biden’s economic approval ratings. Women showed a slightly higher approval (33%) compared to men (31%). Younger voters (18-34 years old) expressed notably lower approval (28%) than older Americans (38% among those over 55 years old).
Biden’s economic policies receive high approval from Democrats (72%), but this support significantly drops among independents (24%) and is minimal among Republicans (3%). This disparity indicates a deep partisan divide in perceptions of Biden’s economic management.
The poll also highlights a wealth gap in Biden’s economic approval ratings. Those earning over $100,000 per year gave a 38% approval, whereas the approval rate was lower among those earning $50,000 to $100,000 (30%) and even lower among those with incomes below $50,000 (26%). This trend contradicts Biden’s narrative of fostering economic growth “from the bottom up,” suggesting that lower-income groups are less convinced about the effectiveness of his economic policies.
Overall, the Gallup poll reflects a challenging scenario for the Biden administration, as its efforts to showcase economic achievements under Bidenomics have yet to gain broad acceptance among the American populace, particularly among key demographic groups and across the partisan divide.
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