An overwhelming majority of Americans are expecting there to be a recession within the next year, according to a Quinnipiac University poll released Wednesday.
The poll found that 85 percent of Americans think it is likely for the country to go through an economic recession in the next year. Of those who responded, 45 percent said it is “very likely,” and 40 percent said “somewhat likely” for a recession.
Only 12 percent said they did not think it was likely or not likely to see a recession.
In fact, the poll also found that only 19 percent of Americans think that the nation’s economy is in good shape, while 80 percent said that it is not in good shape. Of those who responded to the question, 34 percent said “not so good,” and 46 percent said the economy was “poor.”
Quinnipiac noted this is the “most negative description” of the county’s economy since President Joe Biden took office last year.
When the respondents were asked about how much control the president had over the rapidly rising inflation — which has seen a 40-year high — only 29 percent said “a lot,” 38 percent said “some,” 23 percent said “only a little,” while ten percent said “none.”
Broken down by party, 52 percent of Republicans said that Biden has a lot of control over the rising inflation. In comparison, only eight percent of Democrats said he has a lot of control over the increasing inflation.
Overall, there was 35 percent who gave Biden a positive job approval. In comparison, 57 percent had an unfavorable view. This is down from the April 27 poll that showed Biden has a slightly higher 38 percent approval and 52 percent negative review.
The Quinnipiac University poll was conducted from May 12-16 and asked 1,586 U.S. adults nationwide with an overall margin of error of +/- 2.5 percentage points.