Business
Poll: 41% of American Families Believe Finances Deteriorated Under Biden
A Sunday ABC News/Washington Post poll found that 41% of American families believe their finances have gotten worse since President Joe Biden took office, which is the worst finding in 37 years.
Forty-one percent of Americans claim that since Biden took office in January 2021, their personal financial situation has worsened, with nearly 40-year-high inflation hammering American families in 2022. Only 16 percent of people claimed that Biden had improved their financial situation.
Comparatively, 25% of Americans said they were “better off” during the first two years of the administration of former President Donald Trump compared to 13% who said they were in a worse financial situation.
The survey’s results on Sunday were the worst since 1986, when the Reagan administration popularized the term “better off,” according to the polling data.
The poll has a 3.5 point margin of error and a sample size of 1,003 adults, conducted between January 27 and February 1.
In recent days, Biden’s economic messaging has been ambiguous. On Sunday, Biden seemed to acknowledge that under his leadership, Americans had been suffering.
“All told, between higher prices and lower wages, lack of competition between businesses costs the median American household $5,000 a year,” the president posted on Twitter.
A few hours earlier on Sunday, Biden made encouraging comments about the weak economy, suggesting that wages were actually rising.
“Wages are up, inflation is down, and more Americans have health insurance than ever before,” he said.
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