70% of Americans believe economy in bad shape: Poll
A new poll has found that almost 70 percent of Americans believe the US economy is in a bad shape, causing President Joe Biden’s approval rating to sink to a new low.
The opinion poll was conducted by the Washington Post and American Broadcasting Company (ABC) from November 7 to 10.
The poll shows 70 percent of the people view the economy negatively, including 38 percent who say it is in “poor” condition.
About half of Americans blame Biden for increasing inflation, and more than 60 percent say he has not accomplished much after 10 months in office.
The average price of gas in California reached 4.682 US dollars per gallon on Monday, setting a new record for the most populous US state while making it the state with the highest average gas prices in the country, according to Reuters.
However, a total of 63 percent of all respondents expressed support for Biden's $1 trillion infrastructure bill and another 58 percent supported the larger social spending packages Democrats are planning to approve from Congress.
The latest numbers come as Biden has seen low approval ratings in recent months. The poll found that Biden's approval rating reached a new low of 41 percent. Fifty-three percent of those surveyed said they disapprove of his job performance.
Only 39 percent of voters said they approve of Biden’s handling of the economy.
Meanwhile, Biden's advisers have claimed the rampant inflation has been caused by the COVID-19 pandemic rather than their administration’s economic policies.
"There's no doubt inflation is high right now. It's affecting Americans' pocketbooks. It's affecting their outlook," Brian Deese, the director of the White House National Economic Council, told NBC News.
According to the latest statistics, the consumer price index (CPI) rose 6.2 percent in the US federal government's fiscal year, which runs from October 1 to September 30.
The CPI, which tracks inflation for a range of staple goods and services, also rose nearly one percent in the month of October.
Supply chain disruptions across the country are, meanwhile, driving up prices and leading to a growing shortage of goods.
"The pandemic has been calling the shots for the economy and for inflation," Treasury Secretary Janet Yellen said. "And if we want to get inflation down, I think continuing to make progress against the pandemic is the most important thing we can do."
Less than a year into office, Biden is under unprecedented pressure over a range of domestic and foreign issues amid the COVID-19 pandemic.
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