President Biden’s approval rating plunged seven percentage points since February, dropping to near the lowest rates of his presidency as the administration struggles to handle the fallout of recent bank failures and the stubborn effects of inflation, a poll released Thursday shows.
Biden’s approval rating toppled to 38% from 45% in February and 41% in January, percentages that track overall with American’s pessimistic view of the direction in which the country is heading, an Associated Press-NORC Center for Public Affairs Research poll found.
In February, 28% of Americans said they believed the country was heading in the right direction, but that fell to 21% this month.
Biden got more bad news over his handling of the economy, with 61% disapproving and 31% approving.
He scored his lowest approval rating – 36% – last July as the country was in the midst of rising prices for gas and groceries as the highest inflation in four decades ravaged the economy.
Michael McComas, a Michigan resident who voted Republican in 2020, considered Biden as “not great – average, I guess,” and blamed the president for causing inflation because of government spending during the coronavirus pandemic.
“We poured so much money into the system — that’s a little frustrating that we were shocked that we got hit by inflation when a lot of our policies were inflationary,” McComas, 51, told The Associated Press.
But Andrew Dwyer, a 30-year-old data analyst in Milwaukee, said he’s “neutral towards approve” of Biden.
He noted the failures of Silicon Valley Bank and Signature Bank, but said the economy is trying to adjust to the higher rates set by the Federal Reserve to tamp down inflation.
“We all got so used to cheap debt and the ability to throw money around,” Dwyer told the news service.
He said the higher interest rates created some “pain points” but thinks they will “ultimately” result in a healthier economy.
Their sentiments on the president reflect the stark political divide over Biden’s job performance.
While overall 38% of Americans approve of Biden’s work as president, 61% disapprove, as do a whopping 96% of Republicans. Seventy-six percent of Democrats approve of his job performance.
The numbers are similar regarding Biden’s handling of the economy.
Overall, Biden has a 31% approval rating and a 68% disapproval rating on the economy.
But 96% of Republicans disapprove, while 68% of Democrats approve.
Looking ahead to 2024 and the presidential election, Biden appears to be sliding in the pools as former President Donald Trump, who already announced his candidacy and potentially could be nominated again, rises.
Despite his claim that he will be indicted by Manhattan District Attorney Alvin Bragg over a $130,000 hush money payment case from 2016, Trump has seen an increase in his support.
His support among likely Republican primary voters rose from 51% last Friday to 54% on Sunday.
Trump began flagging his possible arrest on Truth Social Saturday.
At the same time, support for Florida Gov. Ron DeSantis, seen as Trump’s strongest rival for the nomination, fell.
Trump now leads DeSantis 54% to 26%, the Morning Consult poll released Tuesday shows.