The president's messaging on "Bidenomics" may not be having the effect on Americans he thinks it does, according to a new poll released Labor Day.
Only 37% of voters approve of President Biden’s handling of the economy, while 59% disapprove, according to a Wall Street Journal telephone and text-to-web survey of 1,500 registered voters conducted Aug. 24-30. Just 34% of respondents said they approved of how Biden is handling inflation and rising costs, compared to the 63% of respondents who said they disapproved.
As for job creation, voters were evenly split, with 47% saying they approved and 47% saying they disapproved of the Biden’s leadership on the issue. The poll results were released the same day Biden once again touted the supposed success of his "Bidenomics" since taking office.
"Wages are growing faster than inflation. Folks, this just didn't happen together. We made it happen. Decades of handing out excessive tax cuts to the rich and the corporations without making the investments in America and the American people. That had been a bust," Biden said during a speech in Philadelphia on Labor Day. "We're changing that – replaced the trickledown economics with what everyone on Wall Street is referring to these days as Bidenomics. And guess what? It's working!"
The poll, however, shows that 58% respondents say the economy has gotten worse over the past two years, whereas only 28% say it has gotten better. Nearly three in four say inflation is headed in the wrong direction.
The Journal also found that 51% of voters said Trump had a record of accomplishments as president, while only 40% said the same for Biden. And by a 10-point margin, 46% of respondents said Trump was mentally up for another term, while just 36% said so for Biden.
Despite having an age difference of just three years, 73% of voters consider the 80-year-old Biden too old to run for president, while just 47% of voters thought so for the 77-year-old Trump.
Fifty-two percent of voters said they believe Trump has a vision for the future, while 44% of voters said they though Biden had a vision for the future. Meanwhile, 48% viewed Biden as a likable person, while just 31% said Trump was likeable, and 45% viewed Biden as honest, compared to 38% for Trump.
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Biden and Trump tied at holding 46% support in a head-to-head rematch of the 2020 election.
During his Labor Day speech, Biden also claimed America has the strongest economy and lowest inflation rate in the world.
The U.S. Department of Labor’s latest report released on Friday showing the unemployment rate rose from 3.5% to 3.8% in August, the highest level since February 2022. The report noted that 736,000 people began looking for work last month, the most since January, and not all of them secured employment right away.
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Senate Republican leadership released a report in July showing inflation has soared by 16.6% since Biden took office. Grocery prices have increased by 20%, the report said, citing Bureau of Labor Statistics data, while energy prices have increased 38%. As of July, prices rose by 3.2% on average over the past 12 months. The August Consumer Price Index is not expected to be released until Sept. 13.
