The disconnect between voters and economists regarding the US economy is posing a challenge for President Joe Biden. Swing state voters are more focused on the economy and inflation, with only a quarter believing that the economy has improved in the past two years despite data suggesting otherwise. Former Treasury Secretary Larry Summers described the economy as relatively strong, but voters in key states have a dimmer view of the state of the country.
The disparity in perceptions extends to personal finances, with voters feeling positive about their own situation but negative about the national economy. Partisanship can also influence responses in surveys about the state of the nation. Despite stock markets setting records and some individuals feeling financially secure, there are indications that many are struggling to keep up with rising costs.
Biden’s task for the upcoming election cycle will be to convince voters that their personal situations are reflective of the broader economy. However, the latest polling shows that a significant number of voters in swing states still see Trump as the candidate best suited to handle key issues like the economy, inflation, and immigration. Biden’s supporters remain confident that the public will rally behind him as the election approaches.
The recent announcement by Biden and Sen. Bernie Sanders about efforts to lower prescription drug prices may help boost the administration’s popularity. However, concerns about affordable healthcare remain prevalent among Americans. The favorable ratings of past presidents like George W. Bush experienced significant fluctuations over time, which could provide some insight into future perceptions of Biden and Trump.
Trump’s approval rating has partially rebounded since the January 6th insurrection, with more than half of registered voters in battleground states expressing approval of his presidential term. In contrast, Biden’s approval rating lags behind. Despite Biden’s focus on protecting democracy, he is only on par with Trump among swing state voters on this issue. With campaigning still ongoing, there is potential for shifts in public opinion leading up to the elections.
