Over the course of his administration, Biden has created the wrong “one percent,” based on the results of a recent ABC News/Ispos poll. According to the poll’s participants, a grand total of one percent of Americans perceive Biden’s economy as “excellent.”
The ABC poll had asked participants how they would characterize the current “state of the nation’s economy,” and they had an array of different adjectives to choose from in their characterization.
Only one percent of all respondents indicated that the economy was “excellent,” with a relatively paltry twenty-three percent claiming that the economy was “good.”
On the other hand, forty-seven percent of respondents claimed that the economy was “not so good,” and twenty-eight percent declared that the current state of the economy under Biden was “poor.”
When combining the categories into negative or positive responses, three-quarters of Americans believe that the Biden economy is either “poor” or “not so good.”
Given that only one-quarter of Americans claimed that the economy was either “excellent” or “good,” a stunning 50-point differential has been created.
These results emerge as inflation hits its highest level in four decades as of January 2022. Alongside skyrocketing inflation, consumer sentiment has also dramatically declined, currently resting at its lowest level in the past ten years.
Housing and rent costs have also escalated by as much as 40 percent in 2021, and average rents have increased by 14 percent to $1,877 across the nation.
While American wages have somewhat risen under the Biden administration, they have not increased enough to align with rapidly rising costs of living. Per data from the Department of Labor, the average worker in America received a 2.4 percent pay decrease in the past year, when accounting for inflation.
As Biden was campaigning in 2020, he proclaimed that he would “shut down” the coronavirus pandemic and initiate dramatic improvements to the economy. However, both promises remain unfulfilled as the Biden presidency trudges on.
Part of the reason that economic woes have become so dire across the nation can be attributed to the ongoing coronavirus pandemic, which has resulted in widespread school closures, vaccine mandates, and excessive unemployment payouts.
The ABC News/Ispos poll was conducted between January 28 and January 29, surveying a total of 510 adults. The margin of error is reportedly +/- 4.9 percentage points.