President Joe Biden’s economic ratings have sunk to lower net ratings than former President Jimmy Carter in the first December of his presidency, a CNN/SSRS poll found.
The poll found that Biden holds a 45% approval rating and a 54% disapproval rating among registered voters on the economy, down from a 51% approval rating in August and September. The survey’s results add up to an overall -9 point net approval rating, while the average of all polls taken in December gives the president -13 points for his economic performance.
The poll also found that only 30% said Biden’s policies have improved economic conditions, while 45% responded that conditions have worsened. The poll surveyed 1,256 respondents ages 18 or older via web and phone between Dec. 18-12 with a 3.7% margin of error.
Inflation hit its highest numbers in nearly four decades with the Consumer Price Index (CPI) increasing 0.9% in November and the inflation indicator’s year-over-year increase to 6.8%. Food prices rose by a staggering 6.1% and energy by 33.3% in the past year.
The American Automobile Association reported that gas prices have more than doubled in comparison to the previous year. California faced its highest gas prices since 12, averaging at $4.682 per gallon in mid-November.
A recent ABC News/Ipsos poll found that only 28% of Americans approve of Biden’s handling of inflation. A December Fox News poll discovered that only 39% approve of his handling of the economy, while 59% disapprove. The poll found inflation to be the biggest concern amongst Americans currently, with 84% of those surveyed saying they are concerned.
Former President Jimmy Carter, like Biden, struggled to deal with inflation and economic issues pertaining to American citizens in the late 1970s, CNN reported. The former president had a higher economic approval rating than Biden at the end of his year in office, with a -8 net approval in a January 1978 CBS News/New York Times poll.
However, a November 1977 Time Magazine poll found that 52% of Americans disapproved of Carter’s handling of inflation, the outlet reported. Only 21% of those surveyed gave Carter a positive review on his economic handling. (RELATED: Higher Inflation Has Arrived, But Economy Unlikely To Reach 1970’s Levels, Report Says)
Americans in the 1970s struggled with soaring gas and energy prices, seeing one of the highest rates of inflation in recent history and interest rates rising to nearly 20%, MinnPost reported. The price per oil barrel quadrupled during the 1973 oil embargo imposed by the Organization of Petroleum Exporting Countries against the U.S. as punishment for re-supplying the Israeli military during the Arab-Israeli War, according to the Office of the Historian.
Unfortunately for Biden, the economy is viewed as the top issue for the nation which has contributed to his sinking approval ratings. A Monmouth University poll found that economic concerns, including everyday bills, groceries and inflation, are among the highest priorities for American families.
In comparison, former Presidents Barack Obama and Donald Trump both had net approval ratings of -4 points in December of their first term, CNN reported. The economy was in bad shape during the beginning of Obama’s first term while Trump had an overall net approval rating of -20, which brought down his approval ratings on a variety of issues.