President Biden is facing an American public that trusts his top political rival far more on inflation and economic matters, issues that are likely to loom large in voters’ minds at the ballot booth in November.
A poll released last week from the Cook Political Report, conducted with Democratic and Republican strategy firms, showed that likely voters across seven “swing states” overwhelmingly disapprove of the job Biden is doing on the economy.
The poll of likely voters across Arizona, Georgia, Michigan, North Carolina, Nevada, Pennsylvania, and Wisconsin found that 60 percent disapprove of Biden on the economy, including 45 percent who strongly disapprove. Forty percent approve, with just 19 percent saying they strongly approve.
The contrast with former president Trump is stark. Sixty-two percent say they approve of the way Trump handled the economy while president, including 41 percent who strongly approve. Thirty-eight percent disapprove, including 26 who strongly disapprove.
This situation is particularly dire for Biden’s election hopes because economic issues are at the top of mind. Asked to name the three most important issues for the next president to focus on, 73 percent named the economy, inflation, and cost of living among their top three. The next most popular choice is immigration and border security, at 52 percent, another issue where Biden is unpopular and trailing Trump.
When asked to describe the best measure of economic health, swing state voters overwhelmingly choose the cost of living, at 54 percent. That is followed distantly by the unemployment rate (13 percent) and household income (nine percent). Interest rates get nine percent support and the stock market six percent.
Sixty-two percent of likely voters in the swing states expect the economy is getting worse, including 40 percent who say it is getting a lot worse. A mere 24 percent say the economy is getting better, with just six percent saying it is getting a lot better.
When asked to describe their personal financial situation, Americans in swing states are much more likely to choose negative terms than positive. In a survey question in which multiple answers were permitted, thirty percent said they were frustrated, 25 percent said they are anxious, 18 percent said they are depressed, and 12 percent said they were angry. Twenty-two percent chose “okay.” Just 14 percent said they are optimistic, 15 percent said they are content, and only nine percent said they are happy.
Americans do not expect Biden to adequately address inflation if re-elected. Sixty-one percent said they are pessimistic that the issue of “the cost of basics” would be addressed if Biden were re-elected, including 43 percent who said they are very pessimistic. On the cost of housing, 63 percent were pessimistic, including 41 percent who said they are very pessimistic.
Trump, on the other hand, is a beacon of hope. Fifty-five percent said they are optimistic, including 31 percent who are pessimistic. Just 45 percent said they are pessimistic, including 28 percent who are very pessimistic. On housing costs, 53 percent said they are optimistic about the issue if Trump is elected, including 28 percent who are very optimistic.
Although many economists and economic pundits argue that the president has little or no control over inflation, the public disagrees. Twenty-eight percent of the swing state voters say the president has a lot of control over inflation and 31 percent say he has some control. Only 25 percent say the president has little control and 16 percent say he has no control.
When asked who they trust to “make the economy better for people like you,” just 39 percent said they trust Biden and Democrats, including 22 percent who said they trust Biden and Democrats much more. Fifty percent said they trust Trump and Republicans, including 34 percent who trust the right much more.
Fifty-six percent of the swing staters say that it is likely that the cost of living will get under control if Trump wins, including 31 percent who say it is very likely. By contrast, only 40 percent say that Biden would get the cost of living under control if he were re-elected, with just 13 percent saying that is very likely.
When asked if inflation will continue to be an issue if Biden were elected, 78 percent said it is likely that it will be, including 47 percent who said it is very likely.
