A record percentage of Americans now say they are worse off financially under President Joe Biden’s administration.
The revealing numbers come from a recent ABC News/Washington Post poll. The survey found that 41% of respondents believed they are in worse financial condition now than they were when the president was inaugurated in Jan. 2021.
That figure is the highest for the question since it began being asked 37 years ago. A mere 16% responded that they are now better off.
The same question was asked two years into Donald Trump’s presidency with remarkably different results. A full 25% said they were better off while only 13% said they fared worse financially.
The same polling gave the former president a sizable victory over the incumbent in a hypothetical rematch between the two. Trump took 48% of the vote to only 44% for Biden, and limiting the results to just registered voters only narrowed the margin by one percentage point.
🇺🇲 2024 Presidential Election Poll
(R) Trump: 48% (+3)
(D) Biden: 45%
(R) Trump: 50% (+9)
(D) Biden: 41%
5 point swing towards Trump from Sept. poll by the same pollster (46/48 – Biden +2)
ABC/WP | 895 RV | Jan 27-Feb 1https://t.co/uMDynJpMw0 pic.twitter.com/2lRmQf8Heq
— InteractivePolls (@IAPolls2022) February 5, 2023
Data also showed Biden holding a 42% approval rating and a 53% disapproval rating.
Looking ahead to 2024, voters were asked for their reactions to either Biden or Trump winning the next presidential election. For the sitting president, 62% said they would be disappointed or angry if he won while only 36% responded that they would be enthusiastic or satisfied.
Results were better for Trump when these questions were asked at this point in his presidency — 56% said they would be disappointed or angry if he won reelection while 43% said they’d be enthusiastic or satisfied.
Trump also fared better when respondents were asked if he should be the Republican Party’s nominee for 2024. Of Republicans and GOP-leaning independents, 44% said he should be their nominee while 49% preferred someone else take the mantle.
Democrats are not so enthusiastic for President Biden. Democrats and Democratic-leaning independents are hardly in his corner with only 31% responding that he should be their presidential nominee next year. A startling 58% prefer another name at the top of the Democratic ticket.
Trump is the only announced candidate thus far for the Republican Party, though there will certainly be others. Biden has not confirmed he is seeking reelection, though hints and indications point towards him running again in 2024.