Polls Show Record Number of Americans Worse Off Financially Since Biden Took Office
By: Tyler Durden
February 6, 2023: The Biden White House has made it their top priority to present the US economy as a wellspring of jobs creation and recovery. Biden relies primarily on jobs data as proof that his economy is the "best economy ever" and has consistently tried to take credit for falling unemployment data and "12 million jobs created since he took office." This claim of course ignores the 25 million+ jobs lost during the covid lockdowns, which Biden avidly supported even after it became clear that covid was a non-threat to the vast majority of the population.
In other words, Biden has been trying to take credit for the recovery of jobs he originally helped to destroy. Many Democrat run states are still lagging and a return to financial stability has been difficult. Other concerns surround the manner in which labor data is being calculated. Only last year the Philly Fed had to revise and refute White House labor gains and cut over 1 million jobs from their stats in the process. That kind of discrepancy is not normal.
In the meantime, inflation numbers have dropped slightly while interest rates rise, yet prices on most goods remain high. Higher wages have not been able to catch up to far higher costs, and the stagflationary problem does not look like it will be going away anytime soon. With the ongoing price crisis as a backdrop, stagnant growth in half the states in the country, the apparent end to covid stimulus and credit costs rising, expectations of a recessionary crash are growing. The White House says everything is fine, but what do the American people say?
According to a new ABC/Washington Post poll, 41% of the American public say they are now in worse shape financially since Joe Biden took office. Only 16% of those polled said they were better off. This is a record number of people in dire straights according to the data, which has been collected for 37 years. Contrast this with the first two years of Donald Trump's administration, when only 13% of people said they were worse off.
The poll coincides with Biden's falling approval numbers - Just 37 percent approval for handling the economy, 38 percent on the war in Ukraine and 28 percent on the immigration situation at the Mexican border. The public by a broad 62-36 percent would be disappointed or even angry if he were re-elected, rather than enthusiastic or satisfied.
This leads us to a not so surprising development among Democrats: 6 in 10 Democrats do not want to see Biden run for a second term. The push for Biden to step down has been growing for the past year, with the aging candidate barely able to read a teleprompter and often seen as bumbling or incoherent. The admissions by far-left outlets like the Washington Post of Biden's waning popularity and economic uncertainty may be part of a growing dissatisfaction among leftists with Biden and their intention of replacing him by 2024.
Source: ZeroHedge
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