News & Politics

Economic Confidence Tanks Under Biden

AP Photo/Andrew Harnik

Despite being handed the perfect conditions for an economic boom, Biden doesn’t have the faith of the American people to get our economy booming again, according to a new Gallup poll. According to the poll, released on Monday, “Twenty-seven percent of Americans now rate current economic conditions as excellent or good, while 30% rate them as poor. Meanwhile, 43% say the economy is getting better, and 53% say it is getting worse.”

But here’s what’s really interesting. “Gallup’s Economic Confidence Index is now -7, down from +2 in April and back to the level registered in March,” reports Gallup. This is compared to the +41 it rated in February 2020, the last full month before the pandemic hit. “Last month, Americans were more positive than negative on both measures, while their readings are net-negative on both this month.”

Sadly, under Biden, the economy has become more of a concern to Americans. “Greater concern about the economy is also apparent in the increased percentage of Americans mentioning an economic issue when asked to name the most important problem facing the U.S,” explains Gallup. “Currently, 21% cite an economic issue — such as the economy in general, unemployment or the federal budget deficit — up from 14% in April and the highest since April 2017.”

Gallup did find that economic concern appears to be replacing COVID as the more pressing issue.

“Even during the worst phases of the coronavirus pandemic, Americans’ attention was focused more on the coronavirus and other issues as the most important problem, including times when economic confidence was much lower than today,” Gallup explained.

While it makes sense that COVID-19 has become less of an issue, it seems that economic growth should go hand-in-hand with that. Improved therapeutics and vaccinations ought to be increasing economic activity as social distancing and masking requirements are phased out. But, as has recently been reported, there’s a “labor shortage” not a “jobs shortage,” which some suggest is due to it being more profitable for some workers to remain unemployed rather than get a job.

Like Obama before him, Joe Biden was handed an opportunity for unprecedented economic growth, but squandered the opportunity in order to push the left’s radical economic agenda. Now, jobs aren’t being filled, and prices are going up.

“In this Biden economy almost everything we need in order to survive is getting more expensive by the month,” Republican National Convention Spokesperson Paris Dennard wrote at The Carolinian.