A Sunday ABC News/Washington Post poll found that 41% of American families feel their financial situation has deteriorated since President Joe Biden became president. This is the worst result in 37 years.
In 2022, American families have suffered from high inflation for nearly 40 years. 41% of Americans feel their personal financial health has declined since Biden assumed office in January 2021. Only 16% of Americans felt their financial situation had improved under Biden.
This is a significant difference from the fact that only 13 percent of Americans said they were financially poorer during Trump’s first 2 years. The remaining 25 percent claimed they were better off. ”
Sunday’s polling data revealed the worst results since 1986 when the Reagan administration popularized the term “better off”.
Between January 27th and February 1st, 1,003 adults participated in the poll. The margin of error was 3.5 points
The past few days have been confusing for Biden’s message about the economy. Biden admitted on Sunday that Americans are suffering under his leadership.
He tweeted: “All things considered, among higher prices, lower wage, and lack of competition between businesses, the median American household spends $5,000 per year. ”
Biden had positive remarks about the slow economy hours before, claiming that wages have risen rather than fallen.
Biden stated, “Wages are rising and inflation is falling. More Americans have insurance than ever.”