(TheLastPatriotNews.com) – In new evidence that President Joe Biden’s economic policies are nothing short of an unmitigated failure, a new poll has found almost half of Americans say they are worse off financially after three years of “Bidenomics,” twice as many as those who claim that they are better off.
The new survey by Rasmussen Reports reveals that almost half of Americans feel their economic situation has worsened compared to the previous year, casting doubt on the effectiveness of what is termed “Bidenomics” by the Biden administration, Breitbart News reports.
The survey, which involved 1,102 Americans and was conducted just after Christmas, found that 45% of participants reported being in a worse economic position than a year ago.
Only 23% felt they were better off, resulting in a significant 22-point disparity.
At the same time, 29% of the respondents indicated their financial situation remained unchanged from the previous year.
This poll underscores the perceived shortcomings of the Biden administration’s efforts to promote its economic policies as beneficial for the nation, Breitbart News observers.
Inflation, often referred to as “Bidenflation” by critics of President Biden, is a crucial factor contributing to the feeling of economic decline among many Americans.
According to the latest data, consumer prices rose 3.1% in the 12 months leading up to November.
This increase contrasts with the 7.1% rise in the prior 12-month period. Since Biden assumed office, consumer prices have escalated by 16.8%.
While average hourly wages have seen a higher increase than consumer prices in the year up to November, they still lag when viewed in the context of Biden’s tenure.
Hourly wages have risen 14.3% since Biden’s inauguration, falling short of the inflation rate by two and a half points.
Political affiliations appear to influence perceptions of economic well-being, with Democrats more likely to report feeling better off than other groups.
Thus, 39% of Democrats claim they are in a better economic situation.
In contrast, only 18% of Republicans and 13% of independents report feeling similarly.
There is also a notable racial divide in perceptions of economic well-being: 32% of black Americans say they are worse off than last year, compared to 45% of white Americans and 55% of other minorities.
