Forty-one percent of American families say their financial position has worsened since President Joe Biden assumed office — the worst result in 37 years, according to a Sunday ABC News/Washington Post survey.
With nearly 40-year-high inflation crushing American families in 2022, 41 percent of Americans say their personal financial health has deteriorated since Biden assumed office in January 2021. Just 16 percent said their financial health was “better off” under Biden.
By comparison, 13 percent of Americans said they were worse off financially during the first two years under former President Donald Trump, while 25 percent said they were “better off.”
Sunday’s polling data revealed the worst result for the survey since 1986 when the phrase “better off” became popular under the Reagan administration.
The poll sampled 1,003 adults from January 27 to February 1 with a 3.5 point margin of error.
Biden’s messaging surrounding the economy has been unclear in recent days. On Sunday, Biden appeared to admit Americans had been suffering under his leadership.
“All told, between higher prices and lower wages, lack of competition between businesses costs the median American household $5,000 a year,” he tweeted.
Hours earlier on Sunday, Biden issued positive remarks about the sluggish economy, claiming wages were higher, not lower.
“Wages are up, inflation is down, and more Americans have health insurance than ever before,” Biden said:
Wages are up, inflation is down, and more Americans have health insurance than ever before.
Workers keep our nation running. It’s about time that our economy works for them.
— President Biden (@POTUS) February 5, 2023
Follow Wendell Husebø on Twitter @WendellHusebø. He is the author of Politics of Slave Morality.
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