American families’ view of the U.S. economy under President Biden is now the worst it’s been in a decade, according to a new CNN poll.
The average American family has already lost over $5,000 in real wages and is facing higher prices at every turn from 40-year high inflation. Survey respondents cite inflation as causing financial strains and a chief reason for their dissatisfaction with the economy.
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Americans have lost confidence in the President’s competency to heal this shrinking economy.
- The Federal Reserve’s Beige Books showed little optimism that inflation is coming to an end any time soon.
- Small business optimism plummeted to record lows in April, according to a National Federation of Independent Business (NFIB) Survey.
- More than 60 percent of job creators fear that inflation will drive them out of business.
- Facing 40-year high inflation, 62 percent of Americans said their family incomes are falling behind the cost of living.
- Over half of Americans believe the U.S. is already in a recession or depression.
- Experts agree Washington spending fueled inflation and has the economy shrinking towards a recession.
- Economists warn inflation is pushing the economy into a worsening wage-price spiral and recession risks are rising.
- While the White House continues to blame everyone but their own policies for fueling 40-year high inflation, even some moderate Democrats are warning that government spending sent prices soaring and Americans should brace for higher and longer inflation ahead.
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