Half of Americans believe they are worse off under Biden in blow to 'Bidenomics'
QI Research CEO Danielle DiMartino Booth and UBS Private Wealth Management managing director Alli McCartney react to the Federal Reserve’s decision to pause rate hikes in November.
Half of Americans believe their financial outlook has deteriorated since the 2020 election, a blow to President Biden as he attempts to center his re-election campaign around the eponymous «Bidenomics.»
A new survey published by Bankrate on Wednesday shows that 50% of Americans say their financial situation has gotten worse since the 2020 presidential election. By comparison, just 21% think their financial situation has improved, while 26% believe it is unchanged.
«The plight of the economy over the next 12 months may help to dictate whether it was wise, or not, for President Biden to trumpet the branding of ‘Bidenomics,'» said Mark Hamrick, senior economic analyst at Bankrate.
Among Americans who are feeling pessimistic about their financial outlook, about half – 45% – blame Biden and his economic policies. Another 35% think that Congress is responsible, while 27% identified the Federal Reserve as the culprit.
CREDIT CARD DEBT HITS A NEW RECORD WHILE DELINQUENCIES ALSO RISE
President Biden announces more than $16 billion in new funding for rail projects on the Northeast Corridor at the Amtrak Bear Heavy Maintenance Facility on Nov. 6, 2023 in Bear, Delaware. ((Photo by Chip Somodevilla/Getty Images) / Getty Images)
Along party lines, Republicans are twice as likely as Democrats to say their personal financial situation has worsened over the past three years, at a respective 67% and 31%. But a key demographic – independent voters – have also expressed discontent over their finances, with 59% saying their situation has deteriorated since
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