Exclusive poll reveals widespread unease about the economy, with Americans expressing more faith in Trump’s ability to address issues

Mounting economic worries have taken center stage for many Americans, with rising inflation driving concerns about their financial well-being. A recent poll conducted by the Suffolk University Sawyer Business School and USA TODAY highlights these apprehensions, indicating that most Americans do not share President Joe Biden’s optimism about the economy. Even more significantly, the poll reveals that Americans trust former President Donald Trump, rather than President Biden, to address these economic challenges.

Linda Muñoz, a retired teacher from Channelview, Texas, expressed her fears about the economy, citing the strain of paying $4 for cereal and $3.38 for gasoline in her state. Muñoz, a Republican, criticized President Biden, saying, “According to him, everything’s perfect. He just doesn’t live in reality.”

According to the poll, nearly 70% of Americans believe the economy is deteriorating, while only 22% believe it is improving. An overwhelming 84% of respondents stated that their cost of living is on the rise, with 49% of Americans attributing this increase to soaring food and grocery prices.

Casey Lafi, a waitress in Philadelphia who voted for Biden in 2020, shared her family’s struggle, noting that their food budget has surged from $800 to $1,500 a month, highlighting the steep prices of eggs, fruits, vegetables, and milk.

President Biden has championed “Bidenomics,” emphasizing an economic agenda centered on the middle class, expanded domestic manufacturing, historic infrastructure spending, and efforts to control prescription drug prices. However, the poll indicates that only 34% of Americans approve of Biden’s handling of the economy, while 59% disapprove.

The poll, conducted from September 6 to 11 with a margin of error of 3.1 percentage points, underscores deep-seated concerns about the economic future among Americans. These anxieties pose a significant challenge to President Biden’s potential re-election bid, especially since the economy typically plays a pivotal role in presidential races.

Surprisingly, the poll reveals that more Americans trust Donald Trump, the leading contender in the 2024 Republican primary, over President Biden by a margin of 47% to 36%. Among independent voters, Trump holds a 46% to 26% advantage.

While 96% of Republicans surveyed expressed pessimism about the economy, a considerable number of independents (76%) and even some Democrats (34%) shared these concerns.

The poll shows that food prices rank as the top financial concern for Americans, followed by housing costs (16%), utility bills, and gas prices (each cited by 11% of respondents). These findings underscore a significant disparity between President Biden’s portrayal of the economy and the feelings of a majority of Americans.

Despite the Biden administration’s accomplishments, including popular measures such as capping insulin prices and lowering prescription drug costs, the poll suggests that Biden’s policies have not alleviated economic fears. Many Americans report changes in their spending habits, with 71% stating they are eating out less, 68% cutting back on clothing expenses, 53% reducing grocery spending, and 57% delaying home improvements.

The economic apprehensions revealed by the poll pose a substantial challenge for President Biden, as public sentiment contrasts sharply with the administration’s messaging on economic progress.

Quotes:

• Roshaun Harris, a social justice and environmental activist from Detroit: “Things are more precarious than they’ve ever been, at least in my lifetime.”
• Jared Bernstein, Chair of the U.S. Council of Economic Advisers in the Biden administration: “Americans approve of the components above 80%.”

Closing Thoughts:

The poll findings highlight the significant economic concerns plaguing the United States and suggest that addressing these anxieties will be a critical factor in the upcoming elections. While some Americans continue to support President Biden’s efforts, a substantial number express disillusionment and place their trust in former President Trump to navigate these troubled economic waters. As the nation grapples with rising inflation and its impact on daily life, the path to economic recovery remains a contentious and vital issue for political leaders and the electorate.