Live
Audio Only
A new poll shows nearly 70 percent of Americans believe the U.S. economy is in bad shape, leading President Joe Biden’s approval rating to sink to a new low.
The opinion poll, conducted by the Washington Post and American Broadcasting Company (ABC) from November 7 to 10, shows 70 percent of the people view the economy negatively, with 38 percent saying it is in "poor" condition.
Nearly half of Americans blame Biden for increasing inflation, while more than 60 percent say he has not accomplished much after ten months in office.
RELATED:
US Economy Slows in Third Quarter Amid Delta Surge Bottleneck
The average gas price in California reached $4.682 per gallon on Monday, setting a new record for the most populous state, making it the highest average gas price in the country, Reuters reports.
That said, nearly 63 percent of all respondents expressed support for Biden's $1 trillion infrastructure bill and another 58 percent supported greater social spending packages Democrats plan to approve from Congress.
Just 39 percent of voters, however, indicated approval of Biden's handling of the economy.
Meanwhile, Biden's advisers state the rampant inflation has been caused by the COVID-19 pandemic rather than their administration's economic policies.
"There's no doubt inflation is high right now. It's affecting Americans' pocketbooks. It's affecting their outlook," Brian Deese, the director of the White House National Economic Council, told NBC News.
.@ABCNews @Washingtonpost #poll is devastating:
— Kellyanne Conway (@KellyannePolls) November 14, 2021
62%: Dems out of touch with needs of Americans
41% approval rating for Biden (a new low)
35% of Independents approve
70%:economy in bad shape
35%:Biden has accomplished much
GOP +10 for Congress
https://t.co/MMdmSdNTHL
The consumer price index (CPI) rose 6.2 percent in the US federal government's fiscal year, which runs from October 1 to September 30.
The CPI, tracking inflation for a range of staple goods, also rose nearly one percent in the month of October.
Americans are increasingly turning away from COVID-19 and focusing their attention on rising consumer prices and other economic areas, with supply chain disruptions across the country driving up prices and leading to a growing shortage of goods.
"The pandemic has been calling the shots for the economy and for inflation," Treasury Secretary Janet Yellen said. "And if we want to get inflation down, I think continuing to make progress against the pandemic is the most important thing we can do."
Less than a year into office, Biden is under unprecedented pressure over various domestic and foreign issues amid the COVID-19 pandemic.
Newsletter
