Unless you’ve been living in a cave for the past two years, or just getting all your news from leftwing media outlets, it’s difficult at this point to ignore the fact that the economy is getting worse by the day.
According to a recent Associated Press-NORC Center poll released recently, just 33% of Americans are happy with President Biden’s handling of the economy. Biden and the Democrats have driven up inflation by spending more than $3 trillion on top of the regular budget spending over the past two years.
For many Americans, rampant inflation is taking a toll on their personal finances… everything from groceries and gas to energy prices.
And thanks to home prices and a current mortgage rate of 6.9%, a lot of people, especially Gen Z’ers and millennials, who would like to buy a home are getting priced out of the current housing market.
Things are getting so bad that many younger people have actually become soured on the idea of home ownership in general, which has been the foundation of the American Dream for nearly 100 years.
It’s no surprise that many Americans are starting to feel that we’re building back worse instead of better.
This is even true of many Democrats.
According to another poll, which came out last year, many Democrats don’t want to see Biden re-elected, either.
Roughly nine out of ten Democrats agreed with the job Biden was doing during his first year in office. But for the past year or so, his approval rating among Democrats has steadily diminished to the point that, as of April, roughly 50% still support him.
Whether they understand that the policies they voted for are having a negative impact on their lives, or just sense that something is not quite right, more and more Democrats are saying no to Biden.
Perhaps we’re witnessing a tidal shift…
The likes of which we haven’t seen since 1980, when Reagan won 44 states thanks to Carter’s mismanagement that led to skyrocketing inflation, high unemployment, gas shortages, and turmoil overseas.
But let’s continue..
In early May of this year, a joint poll was released by ABC News and the Washington Post (hardly conservative outlets) reporting that 63% of Americans believe that Biden lacks the mental clarity to be president.
Things have gotten so bad that even Bill Clinton’s former press secretary and ABC News anchor, George Stephanopolous was forced to admit that Biden’s diminishing poll numbers are a bad omen.
“This poll is just brutal for President Biden,” Stephanopoulos said Sunday on “This Week.”
Moreover, the same poll revealed that 62% of Americans don’t think Biden is in “good enough physical health” to serve as president.
Combine all of this with his low approval numbers on major issues like the economy and immigration and it’s starting to look like an uphill battle for Biden as we enter the 2024 election cycle.
Not surprisingly, most people who were polled felt that Trump had done a much better job with both the economy and immigration: “a majority (54%) of those surveyed said Trump did a better job with the economy than Biden. Just 36% think Biden is doing a better job.”
Still, it’s difficult to predict how things will play out.
After all, one would have thought that the residents of blue cities and states across the country would have rejected the politicians – and policies – that are running those places into the ground.
Will these voters come to their senses by the time the next election rolls around? It’s tough to say.
And on top of all of this uncertainty, we just saw a debt limit bill passed where the Republicans gave away too much, as usual.
Regardless of what happens with the debt ceiling deal going forward, none of this bodes well for the economy… or for your savings