Democrat President Joe Biden’s economic approval ratings are worse than former Democrat President Jimmy Carter, who notoriously oversaw the nightmarish stagflation of the late 1970s.
“Carter’s economic net approval rating of -8 points in an early January 1978 CBS News/New York Times poll was the lowest around this point in a presidency before Biden’s -13 points,” CNN reported. “The economy, and particularly inflation, was listed as the nation’s top problem in a late October 1977 Gallup poll.”
CNN pointed out that Biden was far below the average rating of presidents in the past 44 years.
“In the latest CNN/SSRS poll, Biden comes in with a 44% approval rating to 55% disapproval rating among registered voters on his economic performance. This makes for a -9 point net approval rating. The average of all polls taken in December is quite similar with Biden at -13 points on the economy,” CNN reported. “To put that in perspective, the average president at this point in the last 44 years (since we have been polling on the topic) had a net economic approval rating of +5 points. That means Biden’s is 18 points worse than the average.”
“Inflation, in particular, seems to be a big issue for Biden. Just 28% of Americans approved of the job he is doing to handle inflation in a recent ABC News/Ipsos poll,” the outlet explained. “This comes as more voters said they were concerned about inflation than any other issue in a December Fox News poll, and only 22% said the Biden’s administration efforts to get inflation and rising prices under control were helping. The plurality (47%) said they were hurting.”
According to data from the Department of Labor, inflation has caused the “real average hourly earnings” of Americans to decrease 1.9% from November 2020 to November 2021. This decline in real wages began after President Biden took office. For example, the first month-to-month decline in real wages since November 2020 was in February 2021.