With soaring gas prices, surging food prices, high interest rates, and rampant inflation, it’s no wonder that President Joe Biden and the Democrats have had a difficult time selling “Bidenomics.” And after the recent Fitch credit rating downgrade, this negative perception of the country’s economy was reinforced by many voters. A recent poll revealed that nearly half of voters felt the “economy is in poor condition” and believed that voting Biden out of office would help turn it around.
According to a Rasmussen Poll, 48% of “likely U.S. voters” felt that Biden losing in the 2024 presidential election would be good for the country’s economy. Conversely, the poll results showed that 34% of voters felt Biden losing would be “bad for the economy,” and 8% said his defeat wouldn’t affect it. Additionally, 10% of voters claimed they were unsure what Biden’s defeat would mean for the economy.
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These results are in addition to the plurality of voters who felt the economy was not in good shape. The Rasmussen survey revealed that 47% of “likely U.S. voters” rated the economy as “poor,” while 37% said it was doing good. It’s an ominous sign for the Biden administration and Democrats in the country who have recently tried to make Biden’s economic performance a core part of the party’s messaging. However, as the poll results revealed, it hasn’t been working.
Unsurprisingly, the Rasmussen poll’s results were divided along ideological lines. Among Democrat voters, 54% rated the economy as “good or excellent.” Conversely, only 15% of Republicans and “34% of voters not affiliated with either major party” agreed with the “good or excellent” rating. Republicans, meanwhile, were far less positive. The poll revealed that 70% of Republicans and 48% of voters not aligned with either party rated “the current state of the economy as poor.” Interestingly, this negative perception of the economy was also shared by “26% of Democrats.”
It’s one thing for voters to think the economy isn’t doing well. It’s another thing if nearly half of the nation’s voters believe the economy would be better if Biden weren’t president. It could spell potential doom for Biden’s reelection efforts if such perceptions do not change. And, with gas hitting $5 a gallon in parts of the country and people spending more on groceries than ever, a lot would most likely have to change voters’ opinions.