President Joe Biden’s economic approval hit a new low in a CNBC poll released Monday, and is lower than at any point under the Trump or Obama administrations.
Only 30% of Americans approve of Biden’s handling of the economy, a score five points lower than his April rating, according to CNBC’s All-America Economic Survey, which polled 800 people and was conducted July 7 to 10.
Support was even lower among Republicans, as only 6% of whom approved of his economic program, while 58% of Democrats approved. The poll found that 51% of voters think Biden’s efforts to fight inflation are doing nothing, while 30% believe his efforts are making things worse.
Gas prices have been dropping for 34 days straight, about 50 cents a gallon. That saves the average driver about $25 a month.
I know those extra dollars and cents mean something. It’s breathing room. And we’re not done working to get prices even lower.
— President Biden (@POTUS) July 18, 2022
These ratings are lower than the worst economic ratings throughout Donald Trump and Barack Obama’s presidencies, which were 41% and 37% respectively, according to CNBC. (RELATED: ‘One Of The Worst Downturns’: Mark Zuckerberg Blasts Biden’s Economy In Warning To Employees)
The economy appears to be affecting voters’ behavior too: 65% of respondents said they were trying to spend less on entertainment, 61% are driving less and 54% are cutting back on travel, the poll found. A third of the respondents were using credit cards more, the poll found.
Only 22% of respondents believed the economy would get better in the next year, while 52% thought it would get worse and six in ten said they expected a recession in the next 12 months.
The poll had a 3.5% margin of error.
The White House did not respond to the Daily Caller News Foundation’s request for comment.
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