Inflation causing Americans to doubt Biden on economy, polls show
(The Center Square) – As inflation continues to raise concerns about the state of the economy, new polling shows voters are doubtful about whether President Joe Biden is taking the issue seriously enough.
An ABC/IPSOS poll released Sunday found that 57% of Americans surveyed disapprove of Biden’s economic policies, especially as they pertain to rising inflation.
The ABC/IPSOS poll suggests that discontent is largely driven by the inflation issue, with 69% of those surveyed saying they disapprove of how the president is dealing with it.
Notably, 71% of Independent voters disapprove of Biden’s handling inflation.
Economic concerns have plagued the Biden administration and gummed up their efforts to get the “Build Back Better” spending plan across the finish line as critics of the plan argue federal debt spending will only make inflation worse.
Meanwhile, a newly released poll from the Trafalgar group found that the majority of Americans do not believe Biden is taking the issue seriously enough. Biden has argued his spending plan would combat inflation, though critics dispute that claim.
The Trafalgar poll asked, “How concerned do you think President Biden is about the impact that rising costs and inflation is having on Americans?”
The poll reports that 56.7% said Biden is “not concerned” while 43.2% said he is “concerned.”
The Department of Labor’s Bureau of Labor Statistics released new data last week on the consumer price index, a leading marker of inflation. The CPI reported a 6.8% increase in prices in the previous 12 months.
“The all items index rose 6.8 percent for the 12 months ending October, the largest 12-month increase since the period ending June 1982,” BLS said. “The index for all items less food and energy rose 4.9 percent over the last 12 months, while the energy index rose 33.3 percent over the last year, and the food index increased 6.1 percent. These changes are the largest 12-month increases in at least 13 years in the respective series.”
Gas prices have also risen significantly and brought their own political challenges for the president.
“The monthly all items seasonally adjusted increase was the result of broad increases in most component indexes, similar to last month,” BLS said. “The indexes for gasoline, shelter, food, used cars and trucks, and new vehicles were among the larger contributors. The energy index rose 3.5 percent in November as the gasoline index increased 6.1 percent and the other major energy component indexes also rose. The food index increased 0.7 percent as the index for food at home rose 0.8 percent.”
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