Most Americans say their paycheck is failing to keep up with inflation in the “struggling” economy, a CBS News/YouGov survey released over the weekend found.
The survey found just 13 percent asserting that they are “getting ahead” financially in the Biden economy, compared to 52 percent who said they are “staying in the same place.” However, over one-third, 35 percent, said they are “falling behind.” When asked if their income is keeping up with inflation, most working respondents — 70 percent — said “no it isn’t,” compared to 30 percent who said it is.
Further, 61 percent of respondents used the word “struggling” to describe the U.S. economy under Biden’s lead. Another 56 percent used the word “uncertain,” and 36 percent described it as “unfair.” Another 65 percent, overall, described the U.S. economy as “bad,” and 69 percent believe prices have been “going up” in the last few weeks.
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Most at least somewhat blame President Biden’s policies for the state of the economy as well as the state of their own finances — 80 percent and 61 percent, respectively.
.@YouGovAmerica/@CBSNewsPoll, 2,181 Adults, 7/26-28https://t.co/9Be3QNIMut pic.twitter.com/5nc2zLfvYF
— Political Polls (@Politics_Polls) July 30, 2023
The survey was taken July 26-28, 2023, and has a +/- 3.2 percent margin of error.
It coincides with July Harvard CAPS / Harris Poll, which found most expressing the belief that Biden is not leading the country in the right direction economically.
As Breitbart News reported, the polling reveals:
- Bidenomics faces an uphill battle: 57 percent think Biden is pursuing bad economic policies today and 56 percent think Republicans in Congress understand Americans’ economic problems better than Biden.
- Inflation is hitting Americans across the political spectrum: 76 percent of voters say inflation has impacted them and their family’s finances, with groceries as the area impacted most (chosen by 49 percent of voters).
- Sixty percent of voters think the inflation rate is continuing to increase even though that is not true.
- To regain people’s confidence in his ability to fix the economy, Biden must stabilize inflation, according to a plurality of voters in each party; the second-most popular choice is to cut federal spending.
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