CNN’s Poppy Harlow confronted Deputy Treasury Sec. Wally Adeyemo on Monday over recent polling showing Americans are dissatisfied with the economy under President Joe Biden.
A recent CNN poll found 58% of Americans say Biden’s policies have worsened economic conditions while 70% say things are going badly overall. The poll also found 46% of voters preferred any Republican presidential candidate over Biden and just 33% described the president as someone they’re proud to have as president.
“President Biden is pitching the public on a strong economy and embracing the term ‘Bidenomics’. However, a new CNN poll shows 58% of Americans think the president’s policies have made economic conditions worse,” Harlow said. “Can you respond to that poll and how Americans feel because only 24% of Americans we polled say the economy has gotten better under Biden. Are the American people wrong?” (RELATED: ‘Should We Not Be … Misleading The Public?’: CNBC Host Grills Biden Official Over Claims Deficit Was Cut)
“Over the last two years you have seen Americans start 10.5 million small businesses. Which is record number. One fourth of those are Latino businesses. We’ve created hundreds of thousands of jobs. The economy is moving in the right direction, especially when you look at our competitors internationally and the G7, the U.S. economy is doing far better. But it’s important to remember where we’re coming from. We faced a pandemic that had global repercussions. The American people are still recovering from that.”
“But as we recover from that, what we know is the American economy is doing better than any other economy in the world. We’re creating hundreds of thousands of jobs. Inflation is coming down. Our economy is growing. Investments are being made here in the United States. When I travel around the world as part of my job, companies around the world keep telling me that the place where they want to make investments is here in America, and that’s proving to be true,” Adeyemo said.
“So to the question though about how American people actually feel, are they wrong? Do you believe the data is what they’re misunderstanding? Where is the disconnect?” Harlow pressed.
“No I think that what we’re seeing is the American people are still recovering from Covid, still recovering from what has been a historically tough time in terms of a pandemic that cost lives and also set us back,” Adeyemo said. “But today, as we recover from Covid, we see American family’s wealth return to pre-Covid levels. We’re seeing job creation at historic levels and the economy come back and inflation come down.”
“What we’re saying is there is more work to do. We’re committed to doing that work and America is further along in doing that work than any economy in the world and that’s because of the grit and determination of the American people. But also because of the policies of the president.”
A Wall Street Journal poll found similar results, with 58% of those polled saying the economy has worsened over the past two years, with a majority of those polled disapproving of the economy.