Another bad poll shows that close to three-quarters of Americans find that the United States is not headed in the right direction under President Joe Biden.
Biden’s polling rates have been significantly low in the past few months partly led by the downturn in the economy. According to the NBC News survey, 74 percent of Americans think the country is on the wrong track, while 21 think it’s on the right one.
Furthermore, 58 percent are ‘more worried that America’s best years may already be behind us,’ while 35 percent are hopeful that the best years are on the horizon.
The economy appears to be the main concern of Americans, with 68 percent thinking that the country is already in a recession. This belief is also driven by the 40-year inflation rate hit in June. It is already in a recession, despite Biden’s attestations that the economy is rebounding after the country’s inflation rate hit a 40-year high in June. In July, the cost of consumer goods rose by 8.5 percent, following the 9.1 percent inflation rate in June.
According to Mark Zandi, Moody’s Analytics economist, this results in higher spending of $493 per month for purchasing the same household goods as a year ago.
The Inflation Reduction Act, which includes $437 billion in spending, could help reduce the costs of prescriptions, health insurance subsidies, and energy prices.
The poll also showed that Biden’s approval rate is 42 percent, while 55 percent disapprove of his performance as President.
As the midterm election is nearing in November, this could prove to be bad news.