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Biden’s support fading fast, as CNBC survey finds concerns on the economy, Covid and inflation

President Joe Biden’CNBC All-America Economic Survey showed that President Obama’s approval rating fell to an all-time low. Americans were less impressed with him as an economic leader, and lost confidence in his handling the coronavirus. As a result, they became increasingly worried about rising inflation and shortages of supplies.

While 41% support Biden’s presidential handling, 52% of Americans disapprove. There was a 3.5% margin of error in the 800-person poll conducted October 14-17.

Biden received a negative net rating of 11 points, compared to a positive score of 3 points in July’s survey. 48% approved while 45% were disapproved.

This decline can be attributed to an increase in negativity about the economic handling by the president. Just 40% of respondents approve of him and 54% disapprove, a 7 point rise from July.

The margin of approval for his coronavirus handling has narrowed, though the majority still supports it. Fivety percent approve now, as opposed to 53% in July and 45% disapprove. This is compared with just 38%.

As the president is losing more votes, his numbers are falling. concerns about the economy, inflation and supply shortages rise sharply.

The coronavirus is now the most serious concern of Americans. This survey has seen 16 percent more respondents than the previous one. A majority (47%) of respondents believe in a recession over the next 12 months, an increase of 13 points since the last time the question was asked in 2019.

Micah Roberts from Public Opinion Strategies was the Republican pollster. He stated, “Last Quarter, economic numbers flashed yellow in favor of Biden. But now, that’s intensified. The light is flashing bright red and it’s accompanied multiple blaring sirens.”

The recession worries are accompanied by increasingly negative opinions about the future and current state of the economy. 46% believe the economy will be worse over the next year, which is the highest in 13 years of the poll. 79% of respondents think the economy is fair to poor. This was the lowest since 2014.

Joe Biden (US President) speaks on behalf of efforts to reduce global transport supply chain bottlenecks. He spoke in the East Room at the White House, Washington DC on 13 October 2021.

AFP | AFP | Getty Images

The lowest percentage since 2016 is 31%, which means that only 31% believe now would be a great time to start investing in stocks.

Jay Campbell of Hart Research Associates is the Democratic pollster. He points out that Biden’s coronavirus numbers are especially concerning because he thinks Biden’s perceptions ability to deal with the pandemicHis election was made possible by his support of the arts.

He stated that if the economy does not get on its feet and the Coronavirus doesn’t change course soon then it is going to lead to real problems for the presidency.

This survey shows that Americans are noticing both the labor and supply shortages that plague businesses. A majority of Americans believe goods once easily available are now difficult to find, such as food, groceries and paper products.

66% also claim to have observed labor shortages. They say they’ve experienced shops closing on strange days and at odd hours, when they would normally be open.

One small piece of positive news about the presidential election is the fact that the majority of Americans support it. a plan before CongressThis would result in increased spending on childcare, long-term care, and clean energy.

According to the survey, 41% supported the measure while 30% opposed it. 29% of respondents said they didn’t know enough about the matter. When told that the plan would cost between $1.5 trillion and $2.2 trillion, 51% of respondents support it. When told that the bill will be funded by raising taxes on corporations, and people earning over $400,000 per year, 57% backed it.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.