Joe Biden has been hit by a damaging poll claiming 33 per cent of Americans think the economy is in 'poor condition' - with 79 per cent blaming his administration's policies for the inflation spike
The Fox News survey found that a further 38 per cent of people questioned said the economy was in 'only fair' shape, with just 29 per cent of respondents categorizing it as 'good' or 'excellent.'
Inflation - a rise in the cost of living - is an increasing worry among Americans. A massive 86 per cent of people polled said they were fearful of it growing.
The direct impact of inflation was also highlighted by the poll. Seventy per cent said rising grocery prices had caused them financial hardship, with 67 per cent saying the same of gas prices.
Any hopes of the Biden Administration being given a pass because of COVID were also dashed by the survey.
COVID was blamed as a key driver of inflation - with 86 per cent of those polled said it had caused price rises, amid huge increases in money supply due to COVID stimulus relief, as well as a surges in demand for goods and services as many areas reopen.
But the Biden administration was blamed by 79 per cent of people as also being a driver of inflation, sparking fears that the president's lavish spending to try and kickstart the economy is actually making everyday life harder for many Americans.
More voters see their economic conditions in a positive light than the nation's current economic climate
An overwhelming majority of voters are worried about inflation, according to a Fox News Poll
Voters blame prices hikes on the pandemic more than the Biden administration's policies or the usual ups and downs of the country's financial climate
U.S. families have said that an increase in grocery, gas and housing costs have raised their concerns more than anything else
Over half of U.S. families rate their finances positively and far fewer are dependent on the federal government's help than in 2020, according to the latest Fox News survey released on Wednesday.
Nearly half, 47 percent, are in favor of no financial intervention from the federal government, which is up from 36 percent a year ago. On the other hand, 44 percent of voters would like some form of federal financial assistance. That's significantly from 57 percent who felt that way last August.
The shift comes almost completely from Republicans. A year ago, they were more likely to ask the government to 'leave me alone' than 'lend a hand' by a slim 3-point margin (48-45 percent).
Now, Republicans are firmly in the back-off camp by 56 points (75-19 percent). Some 69 percent of Democrats would ask the government for financial help, which is a two percent drop compared to August 2020 (71 percent).
More democrats would like some form of financial assistance from the government than Republican, who want Americans to be more self-reliable than to seek assistance from the current administration
Still, more voters would like the government to help them with their finances. The overall number looking to be financially independent from any federal aid is down from the 55 percent who felt that way before the pandemic (February 2019), which is lower than the 59 percent high set in August 2014.
About three-quarters of those with income under $50,000 say both grocery and gas prices are increasing -- and just over half of those at the $100,000 or more income level say the same is true for them.
'The degree to which lower-income households are feeling the squeeze on food and fuel is striking, if not surprising, and highlights the risk that inflation could push families on the brink over the financial edge,' says Democratic pollster Chris Anderson, who conducts the Fox News Poll with Republican counterpart Daron Shaw.
When asked about their personal finances, 53 percent of voters rate them in a positive light (excellent or good), including roughly the same number of Democrats (57 percent) and Republicans (52 percent).
However, it's a different story when it comes to the state of the national economy, where partisanship comes into play: nearly three times as many Democrats (43 percent) as Republicans (15 percent) give the economy positive ratings.
Overall, including Republicans and Democrats, 29 percent say the economy is in excellent or good shape. That's unchanged from 29 percent in April, but down from 38 percent last September.
President Biden, pictured on August 11, is being blamed for helping drive up inflation
Most voters (86 percent) are concerned about inflation, seeing many reasons for an increase in prices. Eighty-six percent think the pandemic is responsible for price hikes, while 79 percent blame the government's economic policies, and 72 percent point to the regular ups and downs of the economy.
About equal numbers of Democrats (89 percent) and Republicans (84 percent) point to the pandemic for rising prices, while by a wide 29-point margin, there are a lot more Republicans (93 percent) than Democrats (64 percent) who blame the federal governments policies.
Approval of President Joe Biden's handling of the economy dips 4 points since June and now splits (47-49 percent). His approval is also down 6 points on immigration (35-57 percent) and down 10 points on what is still his best issue -- coronavirus (54-42 percent).
Even with that erosion on specific issues, approval of Biden's latest job approval rating remains above 50 percent.
No. 46 garners the approval of over 9 in 10 Democrats (93 percent), more than half of independents (52 percent), and about 1 in 7 Republicans (14 percent).
For comparison, during the first months of former President Trump's term, he averaged 84 percent approval among his GOP party faithful, 41 percent among independents, and 8 percent among Democrats.
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