Biden's reelection pitch is shaping up around one word -- Bidenomics -- as he bets he'll benefit with voters by hitching his political image to the state of the economy
But Americans still report feeling pessimistic. Biden's approval ratings on the economy have consistently hovered at around 33% since the peak of the pandemic. That's lower than his overall approval rating, which stands in the low 40s, according toBreaking through there will be paramount for Biden as he builds a campaign message around economics. The cause of that persistent pessimism remains something of a puzzle to both the administration and some economists alike.
That decline in consumers' purchasing power, which Grant found could explain "most" of Americans' recent shift in attitude, has gradually reversed over the course of 2023, according to data from the U.S. Bureau of Labor Statistics. "If you've dug a hole, then you need to get out of it," Grant said. "That could take a little while."
Republicans are also putting forward economic plans of their own. Last week, former President Donald Trump sketched out a plan to impose a 10% tariff on all foreign imports in an attempt to put what he terms a "ring around" the U.S. economy, which some experts have warned would destabilize global trade.
A majority of Americans say the economy is in bad shape, but at the same time say their own finances are good, a Quinnipiac"There's no question that there is a disconnect," said Mark Copelovitch, a political science professor at the University of Wisconsin in Madison.
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