A majority of voters now rate President Joe Biden’s handling of the economy as poor, amid rising concerns about inflation.
A new national telephone and online survey by Rasmussen Reports and The National Pulse finds that just 34 percent of Likely U.S. Voters rate Biden’s handling of economic issues excellent or good, while 51 percent now give the president a poor rating on the economy. That’s a significant decline since July, when 42 percent of voters rated Biden good or excellent on economic issues and 43 percent gave him a poor rating.
Eighty-three percent of voters now say they are concerned about inflation, including 57 percent who are Very Concerned, while just 14 percent are not concerned about inflation. Inflation worries have risen since May, when 76 percent of voters were concerned, including 45 percent who were Very Concerned.
While a majority (62 percent) of Democrats still rate Biden excellent or good on his handling of economic issues, that view is shared by only 16 percent of Republicans and 20 percent of voters not affiliated with either major party. Biden’s positive rating on the economy has dropped 17 points with unaffiliated voters since July. Seventy-eight percent of Republicans and 60 percent of unaffiliated voters now give Biden a poor rating on the economy, as do 21 percent of Democrats.
The survey of 1,000 U.S. Likely Voters was conducted on October 13-14, 2021 by Rasmussen Reports and The National Pulse. The margin of sampling error is +/- 3 percentage points with a 95 percent level of confidence. Field work for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. See methodology.
Inflation worries are shared by an overwhelming majority of voters across party lines, with 90 percent of Republicans, 77 percent of Democrats and 86 percent of unaffiliated voters at least Somewhat Concerned about inflation.
Fifty-five percent of Black voters rate Biden either excellent or good on his handling of economic issues, but just 31 percent of whites and other minorities share that view.
Black voters (44 percent) are less likely than whites (60 percent) or other minorities (59 percent) to be Very Concerned about inflation.
Voters earning $100,000 a year or more have a more favorable view of Biden’s handling of economic issues than do voters earning less. Similarly, those with graduate degrees have a higher opinion of Biden on the economy than do those with less education.
Voters under 40 are significantly less likely than their elders to be Very Concerned about inflation.
Government employees are much more likely than private sector workers to have a favorable view of Biden’s handling of the economy. Retirees are most likely to be Very Concerned about inflation.
Among voters who say they are Very Concerned about inflation, 76 percent give Biden a poor rating for his handling of the economy.
Problems affecting the U.S. supply chain have a majority of Americans concerned, as they are already noticing shortages in stores, and they expect the federal government to take action to solve the crisis.
More than two-thirds of voters are against plans in Congress to give the Internal Revenue Service access to data on all bank transactions over $600, and most believe Democrats are lying when they say they’ll only raise taxes on the rich.