A majority of voters say President Joe Biden’s economy has sunk into a recession, a Wednesday Politico/Morning Consult poll revealed.
Sixty-five percent of respondents believe the economy is in a recession, while 20 percent say it is not. Fifteen percent decline to answer.
On Wednesday, inflation rose to an annual rate of 9.1 percent in June, according to the Department of Labor. This is the highest rate since 1981. Breitbart News reported:
Compared with a month earlier, the Bureau of Labor Statistics’ Consumer Price Index was up 1.3 percent.
Economists had expected CPI to rise at an annual rate of 8.8 percent, up from 8.6 percent in May. They expected a month-over-month increase of 1.1 percent.
Inflation has American families hard by raising prices for everyday necessities like food, gasoline, housing, transportation, and utilities. Huge increases in the price of gasoline in June, which hit new all-time highs several times during the month, started to sap household and business spending on other items.
The poll also found that only 34 percent of voters approve of how Biden has managed the economy. Only 12 percent strongly approve. Sixty percent disapprove with 47 percent strongly disapproving.
The poll sampled 2005 voters from July 8-10 with ± 2 percent margin of error.