Poll: 72 Percent Say 2022 Economy Will Hurt or Plateau Family Finances

Couple worried about finances
Mikhail Nilov/ Pexels

Seventy-two percent of likely voters say their family finances will get worse or stay the same under President Biden’s leadership in 2022, a Monday Trafalgar Group poll revealed.

While Americans experienced 40-year-high inflation and reduced wages in 2021, 41 percent say they expect their family’s finances to become worse in 2022.

Only 25 percent of likely voters say they will get better, and 33 percent estimate they will stay the same.

Broken down among party lines, just 18 percent of independents say their family’s finances will improve during the year. Ten percent of Republicans say the same.

Less than a majority of Democrats believe Biden’s economy will benefit their family this year (40 percent).

The poll sampled 1081 respondents that consisted of 39 percent Democrat, 35 percent Republican, and 25 percent nonpartisan. The margin of error is 2.98 percent.

The polling comes as Biden’s economic growth has slowed at the beginning of the year as a result of high prices, labor storages, supply chain woes, and coronavirus chaos, Breitbart News reported:

The U.S. IHS Markit flash composite purchasing managers index, one of the first comprehensive looks at economic growth this year, fell to 50.8 in January from 57.0 in December, severely undershooting expectations and signaling almost no growth in the economy. Economists had forecast a reading of 56.7.

The economy and jobs rank as bigger issues for Americans than coronavirus, but many of Biden’s coronavirus policies have negatively impacted the economy, such as massive spending, mandates, school closures, and vaccine passports.

Biden’s approval rating is pegged at 33 percent.

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