Most voters say their economic situation is actively “deteriorating” under President Biden’s leadership, according to a recent Harvard-Harris poll.
More than half, according to the survey, they say Their economic situation is “getting worse” under Biden’s leadership — 56 percent. By comparison, a year ago in July 2021, 33 percent said their financial situation was “getting worse.” And in January 2020, former President Trump’s final month in office, 20% said their financial situation was getting worse, reflecting a continued increase throughout the Biden presidency.
This coincides with a recent one A Suffolk University/USA TODAY survey found that 4 in 10 Americans are being forced to cut back on essentials like groceries because of inflation.
The results come as Americans face 41-year high inflation in the Biden recession as the country has experienced two consecutive quarters of negative economic growth. In the second quarter of the year, Gross Domestic Product (GDP) shrank by 0.9 percent:
The economy shrank by 1.6% in the first quarter. Many Americans consider two consecutive quarters of recession to be an indicator of a recession. Economists, however, rely on the determination of the National Bureau of Economic Research (NBER) to tell when a recession begins. The NBER has a more complicated and subjective definition of a recession and usually doesn’t declare a recession until several months after it begins.
That’s problematic for Democrats as the midterm elections approach, as 34% identify price hikes and inflation as the most important issues facing the country today, followed by 29% who agree it’s the economy and jobs . In addition, iInflation is the biggest concern for Americans, according to the survey.
A Rasmussen Reports survey released Wednesday caused further trouble for Democrats, as most believe the country is in a recession and that Democrats is to accuse.
The Harvard-Harris poll was conducted July 27-28, 2022, among 1,885 registered voters.