Biden approval on economy hits new low: poll

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President Biden’s economic approval ratings have hit a record low for his presidency — and surpassed the lowest ratings of the previous two presidents, new polling shows.

A CNBC All-America Economic survey put Biden’s economic approval rating at 30 percent, 5 points below a previous survey in April.

That number is also 11 points below the low for former President Trump and 7 points below the lowest for former President Obama.

Conducted July 7-10, the poll surveyed 800 Americans and has a margin of error of plus or minus 3.5 percentage points.

The survey has been distributed for 15 years, but the latest results include “the worst economic outlook measures CNBC has recorded,” the report concludes.

Over 60 percent of poll participants said they expect the country to fall into a recession in the next year, and 6 percent believe it’s already fallen.

Just 22 percent of those surveyed reported believing the economy will improve in the next 12 months.

Six percent of Republicans said they approve of Biden’s economic record, and just over half — 58 percent — of Democrats back their party’s leader.

Biden’s overall presidential approval in the poll was one point lower than Trump’s lowest rating, at 36 percent.

Inflation was the top concern, followed closely by abortion. The lowest listed concern was the coronavirus, a change from recent years. Other concerns included crime, immigration, jobs and climate change.

About half of the respondents said Biden’s moves against inflation are having no effect — and just shy of a third think his efforts are having the opposite effect of their intention.

Over half of respondents reported cutting back on entertainment, driving less and reducing travel to combat rising costs.

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