Americans Sour on Bidenomics: Most Say Economy Worse Than Five Years Ago

President Joe Biden speaks about the economy at the Old Post Office in Chicago, Illinois,
ANDREW CABALLERO-REYNOLDS/AFP via Getty Images
Hannah Knudsen

Americans have soured on Bidenomics, concluding that the U.S. economy is worse now than it was five years ago under former President Donald Trump’s leadership, a recent Reuters/Ipsos survey found.

The overall survey found that Americans view economic issues as some of the most “pressing problems” of the day. Overall, nearly half, 49 percent, of Americans view inflation as the most important issue facing the country. Further, nearly three-quarters of Americans, 73 percent, say the economy is worse off now than it was five years ago, under Trump’s leadership. A majority, 64 percent, also believe the economy is worse off than it was in 2020, when the coronavirus took a grip, forcing businesses to close.

“About two in five of Americans say they feel worse off from five years ago generally (38%) and a similar number say they feel worse off compared to 2020 (37%),” according to Ipsos, which also found that 56 percent do not believe Biden is doing enough to invest in the economy.

The survey was taken July 28-August 1, from a sample of 2,009 adults and has a +/- 2.7 percent margin of error.

It coincides with an IBD/TIPP Poll showing Biden’s approval rating remaining at a record low, with just 38 percent of American adults approving of the 80-year-old’s job performance. Most, 51 percent, disapprove. Notably, 22 percent of Democrats disapprove of Biden’s job performance, as do 60 percent of independents.

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Most, 52 percent, also disapprove of Biden’s handling of the economy. That reflects a one-point uptick from the 51 percent who disapproved in July. This survey also demonstrated the negative impacts of inflation, as just 16 percent said their wages have “kept pace with inflation.”

“Inflation is a top economic concern for 50% of adults, up from 48% in July but below the August 2022 level of 54%. Some 28% are worried about gas prices specifically, up from July’s 25% and June’s 24%, but well off the 59% in July 2022,” Investor’s Business Daily found.

The surveys come as gas prices rise across the country once again, as the national average went up 11 cents since last week to $3.82, according to AAA. The average price nationally stood at $3.825 on Wednesday, but the average price is much higher in states such as Utah, Nevada, Idaho, Washington, Oregon, Illinois, Hawaii, Alaska, and California, all of which have average prices over $4.00 per gallon. California’s average is well over a dollar higher than the national average — over $5.00.

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