Have you noticed… The economy is already in turmoil thanks to Joe Biden. pic.twitter.com/pgd4Y3tH5S
— Gunther Eagleman™ (@GuntherEagleman) November 12, 2023
A recent poll conducted by the Financial Times – Michigan Ross has delivered a sobering assessment of President Joe Biden’s economic policies, revealing that only 14% of American voters feel financially better off since the start of his presidency. This sentiment poses a significant challenge to Biden’s potential re-election and underscores widespread skepticism about his administration’s economic track record.
The poll exposes a considerable lack of confidence in Biden’s economic strategies, with nearly 70% of voters believing that they have either harmed or had no impact on the US economy. Notably, 33% of respondents feel that Biden’s policies have “hurt the economy a lot,” while only 26% see them as beneficial.
Biden‘s economy pushing Arizona voters to jump ship for Trump | Washington Examiner – Jason Miller
Conducted monthly, the poll, initiated by the Financial Times and the University of Michigan’s Ross School of Business, aims to track how economic sentiment influences the race for the White House. The historical significance of such sentiments is highlighted by the comparison to the 1980 election when Ronald Reagan’s question to voters about their financial well-being four years earlier set the stage for his victory over incumbent Democrat Jimmy Carter.
In contrast, a similar poll from November 2019, predating the pandemic, showed less pronounced pessimism under then-President Donald Trump. Despite most Americans feeling no improvement in their financial status, 35% believed they were better off under Trump, while 31% thought they were worse off.
Biden keeps telling us how great the economy is, but Americans know the truth.
Bidenomics is crushing hardworking families and there’s no end in sight. pic.twitter.com/XIALwrLQE1
— Burgess Owens (@BurgessOwens) November 14, 2023
The persistently high level of inflation remains a crucial concern for the Biden administration, overshadowing its touted achievements in job growth and economic expansion. An overwhelming 82% of respondents identified rising prices as their primary financial stressor. This concern cuts across political affiliations, with Democrats, Republicans, and independents all listing inflation as the most significant economic threat and source of financial stress, signaling potential trouble for Biden.
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Erik Gordon, a professor at Michigan’s Ross School, noted that worry over inflation transcends political divides and represents “bad news for Biden.” Despite a slight decrease from last year’s peak inflation rate, prices continue to rise significantly, reflected in a 3.7% increase in the consumer price index compared to the previous year.
The impact of inflationary pressures is evident in the spending habits of voters, with 65% cutting back on non-essential expenditures, and more than half reducing spending on daily necessities.
While the Democratic Party recently celebrated victories in key states, the poll’s findings, coupled with national surveys, suggest potential challenges for Biden in a hypothetical match-up against Trump. With only 40% of voters approving of Biden’s job performance and an even lower 36% approving of his handling of the economy, questions arise within the Democratic Party about his viability as a presidential nominee.
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Major Points Discussed
- Financial Times – Michigan Ross poll reveals that only 14% of American voters feel financially better off since the start of President Joe Biden’s tenure.
- Approximately 70% of voters believe Biden’s economic policies have harmed or had no impact on the US economy, with 33% stating they have “hurt the economy a lot.”
- In contrast to a similar 2019 poll under Donald Trump, sentiments under Biden’s administration reflect heightened pessimism despite no significant improvement in financial status.
- Inflation remains a critical concern, with 82% of respondents identifying rising prices as their primary financial stressor, overshadowing the administration’s achievements in job growth and economic expansion.
- The poll’s findings, along with national surveys, signal potential challenges for Biden in a hypothetical match-up against Trump, with low approval ratings for his overall job performance and handling of the economy raising questions within the Democratic Party about his viability as a presidential nominee.
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Comments – Threads – Links
- “Nearly 70% of voters believe Biden‘s economic strategies have either harmed or not impacted the US economy.” Biggest concern is inflation at 82% of voters, with 65% cutting back on spending and half cutting back on daily necessities. – Peter St. Onge
- Listen to This Article – Pundits: “Ignorance” Makes Americans Give “Wrong” Answers To Economic Confidence Poll – Racket – Matt Taibbi
- Economic confidence increased to 93.7 in this month’s Rasmussen Reports Economic Index, three points higher than October. More At Rasmussen Reports – Rasmussen
- Episode 30 of the Podcast is up! – It begins: Unemployment jumps – Swiss may lock people into failing banks – Economy puts Trump over Biden – Why Election fraud doesn’t work – Household debt hits $17.3 trillion – Trucking says Recession Coming – Peter St. Onge
- Americans know Biden has been very bad for America, for economy. No one is “better off now than 3 yrs ago.” Yet…GOP still can’t win elections. At what point do we all come to realization elections are rigged & country is stolen. – Wayne Root
- Moody’s Investors Service just changed its outlook on US ratings to NEGATIVE. Moody’s blamed downside risks and “higher interest rates, without effective fiscal policy measures to reduce government spending or increase revenues.” This means Biden has ruined the US economy. – Paul S