Ninety-seven percent of Americans say President Joe Biden’s sagging economy, a concern that has remained dominant for months, is a top issue of importance, a CBS News/YouGov poll found Sunday.
While Biden’s shaky economy was the top issue among Americans, inflation and crime were a close second. Ninety-five percent said Biden’s inflation was an important concern, along with crime, followed by health care (94 percent) and government spending (91 percent). In contrast, only 79 percent said the issue of abortion was important.
For months, Biden’s economy has been the most important issue, according to CBS News polling. In January, 97 percent said Biden’s economy was an important issue, a tie with inflation. Crime came in a close second with 94 percent. Abortion was well down the list at 81 percent.
Economic concerns have continued to be relevant as inflation has soared. In 2022, Biden’s 40-year-high inflation cost American households an average of $5,200 extra, or $433 per month, according to Bloomberg. A CNBC Your Money Financial Confidence survey revealed Tuesday that 70 percent of Americans feel financially stressed in Biden’s America.
Biden’s inflation, fueled by an energy crisis, impacted the banking sector. In March, a banking crisis occurred, in part because of sharp interest rate hikes to reduce inflation. The Federal Reserve continued to increase interest rates in March to tamp down soaring inflation. Some economists have warned this risks triggering a recession and could add to financial instability.
Overall, Biden’s economy does not appear to be working for middle class families. According to a recent Monmouth University poll, American middle-class families, who are most likely to serve in the military and pay an overwhelming percentage of their income in federal taxes, believe they are not benefiting from the policies of the Biden administration. Only 10 percent of Americans believe the middle class has benefited a lot from them, while 51 percent say the middle class has not benefited at all.
Sunday’s poll surveyed 2,065 Americans from April 12-14 with a 3.2% margin of error.