Majority of Voters Disapprove of Biden/Harris Economic Policies, Poll Finds

In a recent CBS News/YouGov poll, a staggering 63 percent of voters believe the Biden/Harris administration is steering the economy in the wrong direction. Only a mere 35 percent think it’s on the right track. This sentiment highlights growing discontent among Americans as they grapple with rising costs and economic uncertainty.

Significantly, 82 percent of respondents noted that Vice President Kamala Harris’s policies mirror those of President Joe Biden, indicating that voters will hold both accountable for the current state of the economy. In August 2023, Harris proudly touted the administration’s massive spending packages, calling it “Bidenomics” and stating, “Bidenomics. Ha ha ha ha! That is called Bidenomics — and we are very proud of Bidenomics!”

When asked, “How would you rate the condition of the national economy today?” the responses were telling:

• Very good: 9%
• Fairly good: 26%
• Fairly bad: 30%
• Very bad: 33%
• Not sure: 2%

A plurality of 45 percent believes their finances would improve if former President Donald Trump were to defeat Harris in the upcoming election. Only 25 percent felt the same if Harris were to win, showcasing a clear preference for Trump’s economic policies among the electorate.

The poll underscores the skepticism surrounding the Biden-Harris administration’s approach. Under their leadership, prices have risen by an average of 20 percent. For instance, popular fast-food chains like Popeyes, Taco Bell, and Chipotle have increased their prices by at least 75 percent, as reported by the Food Institute.

Despite these challenges, Harris has consistently praised the administration’s policies:

• July 24, 2023: “Bidenomics is working”
• August 3, 2023: “Bidenomics is working”
• August 4, 2023: “Bidenomics is working”
• August 8, 2023: “Bidenomics is working”
• August 15, 2023: “Bidenomics is working”

The poll was conducted from July 30 to August 2, the poll sampled 3,102 voters with a margin of error of 2.1 percent.

The economic outlook remains bleak as stocks plunged on Monday, raising fears of an impending recession. Recent economic data revealed rising unemployment and slower job growth than anticipated. Manufacturing activity, often considered a bellwether for the economy, also showed significant contraction.

The Department of Labor reported that the economy added just 114,000 jobs in July, falling short of the 180,000 forecast. Surveys by the Institute for Supply Management and S&P Global further confirmed the decline in factory activity.

Market reactions were swift:

• The Dow Jones Industrial Average fell by 2.3 percent.
• The Nasdaq Composite plunged by four percent.
• The S&P 500 dropped by 3.1 percent.
• The Russell 2000 index of smaller companies saw a decline of 5.1 percent.

These developments paint a concerning picture of the current administration’s economic stewardship, leaving many voters questioning the future under Biden and Harris’s leadership.