Less than 15 percent of voters believe they are better off with President Joe Biden as commander in chief, a Financial Times-University of Michigan’s Ross School of Business poll found Monday, increasing fears among Democrats that “Bidenomics” failed to deliver results.
- 14 percent of voters say they are better off financially now than when Joe Biden took office, the poll found.
- 70 percent of voters say Biden’s economic policies had either hurt the economy or had no impact.
- Among the 70 percent, 33 percent said the president’s policies hurt the economy a lot.
The poll revealed inflation was voters’ greatest financial stress:
- 82 percent of respondents said soaring price increases.
- 75 percent said inflation was the most significant threat to the U.S. economy in the next six months.
Inflation caused a majority of voters to change their essential and non-essential spending, the poll also found:
- 65 percent said they reduced non-essential spending, such as eating out and holiday purchases.
- 52 percent said they reduced spending on food or other everyday necessities.
- 52 percent said they know “a little” or “nothing” about “Bidenomics.”
— Jeff Stein (@JStein_WaPo) November 13, 2023
“Every group — Democrats, Republicans and independents — list rising prices as by far the biggest economic threat . . . and the biggest source of financial stress,” Erik Gordon, a professor at Michigan’s Ross School, told the Times. “That is bad news for Biden, and the more so considering how little he can do to reverse the perception of prices before election day.”
The poll sampled 1,004 voters from November 2-7 with a 3.1 margin of error.
The poll comes after Democrats would reportedly advise Biden to “heave” so-called “Bidenomics” in the “dumpster,” Politico’s Jonathan Martin wrote Monday after interviewing dozens of Democrats and Never Trump Republicans.
“Attempting to make voters believe something they don’t is folly. Attaching your name to that strategy borders on masochistic,” Martin said of Biden’s economic policy term. “At a time when people are paying more for housing, gas and groceries, focusing on job growth and the unemployment rate is ineffective.”