Americans think the economy is in the worst shape since January 2012, according to a CNN poll on Wednesday.
About 77% think President Joe Biden’s economy is bad. Forty-seven percent said the economy was somewhat bad, while 30% said it was very bad.
Only 2% said the economy was “very good”. Twenty-one percent said it was “fairly” good.
The poll sampled 1,007 Americans from April 28 to May 1 with a margin of 3.9%.
CNN: “Americans disapprove of President Biden’s handling of this matter [the economy] more than ever.” pic.twitter.com/mz6o0gWksA
— The Post-Millennium (@TPostMillennial) May 4, 2022
The poll also revealed that the economy is the number one issue for Americans by 36 points (50%).
The Ukraine war (14%), immigration (10%), global warming (9%), racial unrest (5%), coronavirus (5%) and education (4%) followed .
Economists believe the economy will get worse for American workers under President Biden. Some economists have predicted a 50/50 chance of a recession in the coming months and into 2023.
“The risk of recession has increased,” Goldman banker Jan Hatzius wrote Monday. “The financial health of the private sector may ultimately determine whether policy tightening will tip the economy into a slowdown.”
Largely because of Biden’s fiscal policies, inflation has hit a 40-year high. A poll reveals that Americans trust Republicans over Democrats by 19 points to manage inflation (50-31%).
Follow Wendell Husebo on Twitter and Gettr @WendellHusebø. He is the author of Politics of Slave Morality.