Biden’s Popularity Falls As His Government Flounders

"Joe Biden" (CC BY-SA 2.0) by Gage Skidmore

Inside a new poll released this week, Democrat President Joe Biden’s popularity rating fell below 50% for the first time before the beginning of the year.

“Joe Biden” by Gage Skidmore is licensed under CC BY-SA 2.0

According to a poll conducted on Wednesday by Monmouth University, Biden has a job approval rating of 48 percent and a disapproval rating of 43 percent. In April, he had a 54 percent approval rating and a 41 percent disapproval rating.

According to the study, only around one-third of Independent voters approved of Biden’s job numbers, while less than one out of five conservatives do.

According to The New York Times, 83 percent of Democrats said the country was heading in the right direction in April. However, only 59 percent of Democrats thought that in a poll released on Wednesday. The percentage of Democrats who believe the country is on the wrong track increased by 20 percentage points to 32%.

One of the most important conclusions from the study, according to the New York Times, is that Democrats are becoming more disillusioned, and at a growing rate.

The poll highlighted two crucial statistical points: Americans’ growing fear of hyperinflation, which was rising in reaction to Biden’s increased government spending, and the state of the middle class.

The Report Detailed:

One of the most common economic criticisms of Biden’s policies is that they will result in skyrocketing inflation.

Most Americans are afraid that these proposals would lead to inflation, with almost half (47%) being extremely concerned and 24% being moderately concerned. A large majority of Republicans (93 percent), Independents (70 percent), and Democrats (55 percent) are concerned that costs would rise as a result of the projected spending.

About one-fifth of Americans (19 percent) believe middle-class households have benefitted a lot from Biden’s initiatives; another 32 percent say they have gained a little and 36 percent say they have not benefitted at all.

These numbers aren’t as encouraging as they were when Biden first came into office. In January, 30 percent of the people thought his policies would assist the middle class a lot, 39 percent thought they would gain a little, and 27 percent believed they would not help at all.

Rising Rates!

According to CNBC, the Reserve Bank upped its inflation expectations for this year and pushed up the time frame for raising rates. The Federal Reserve, though, offered no hint of when it will start to scale back its ambitious bond-purchasing program; this comes despite Chairman Jerome Powell acknowledging that the matter was discussed during the meeting.

According to CNBC earlier this week, Americans’ fear of inflation has reached an all-time high, with the anticipation that inflation will reach 4% in a year.

Last week, Larry Summers, a former top economic official in the Clinton and Obama administrations, told PBS’s Firing Line with Margaret Hoover that Biden’s massive spending risks melting the economy.