A recent CBS poll reveals that Americans nationwide believe that surging inflation is diminishing their quality of life. Additionally, the poll signals challenges for the Democrats, with a majority of voters attributing the high cost of living to President Joe Biden.
A prevailing sentiment is that the nation’s economic challenges in recent years have been exceptionally formidable, second only to the difficulties posed by the Covid shutdowns. Many citizens express that the current post-pandemic era is the most economically challenging period they have encountered.
The impact of inflation extends beyond immediate financial strain, potentially stifling opportunities in America at a broader level.
During an appearance on the CBS show “Face the Nation,” pollster Anthony Salvanto shared the CBS News poll’s findings.
Despite optimistic jobs reports from the Biden administration and discussions of “soft landings” by corporate media economists, people emphasize that they prioritize their personal experiences over macroeconomic indicators.
A significant majority of Americans now express that their incomes are not keeping up. A growing number of individuals believe that their standard of living has deteriorated compared to that of their parents.
The poll reveals that age groups, particularly millennials and Gen-Xers in their prime working years, are particularly inclined to attribute their declining living standards to Bidenflation. This sentiment, however, contradicts the traditional concept of the American Dream.
For the first time in four decades, Americans are grappling with inflation of this magnitude. When asked to contextualize the current challenges, respondents describe the economic difficulties since the pandemic as the most severe in a couple of generations. They argue that life under Biden’s economy has been more challenging than the 2008-09 crash and Great Recession, other recessions in the 90s and 80s, and even more so than the inflation and gas shortages of the 1970s.
According to the poll, people attribute inflation to international factors, suspicion of companies overcharging, and government spending, rather than “higher consumer demand.”
Inflation remains the primary reason cited for a negative perception of the economy. Overall, views of the economy are largely pessimistic and closer to spring levels than those in the fall.
President Biden still faces significant disapproval for his handling of inflation. Americans continue to believe that the actions of the Biden administration have contributed to its growth rather than alleviating it.
Despite the Biden administration’s promotion of legislative achievements like the Build Back Better Act and the Inflation Reduction Act, public evaluations are mixed. Many, including Democratic voters, claim they have not heard enough about these initiatives, at least not by name.
In summary, the prevailing consensus among Americans is that living standards have fallen to unacceptable levels under President Biden.
