As President Joe Biden prepares to leave the Oval Office in just a few days, new survey data highlights a mixed outlook among Americans, with significant criticism of Biden’s economic record and growing optimism about President-elect Donald Trump’s second term.
A Fox News survey released Thursday found that 52% of Americans believe the Biden-Harris administration made the economy worse. The poll also revealed that 89% of voters are “extremely” or “very” concerned about inflation, a marked increase from 83% in 2021, early in Biden’s presidency when inflation reached 7% by December.
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Since taking office in January 2021, Biden has faced sustained criticism over the economy, particularly for persistently high inflation, which peaked at 9.1% in June 2022. Despite efforts to lower inflation, the rate remains above the Federal Reserve’s 2% target as Biden exits office.
Meanwhile, the national debt has climbed to $36.17 trillion, and the federal deficit for the first quarter of fiscal year 2025 stands at $711 billion.
A CNN poll, also published Thursday, showed more optimistic sentiment for the country’s future under President-elect Trump. According to the survey, 56% of Americans expect economic conditions to improve over the next year, and 52% believe the country will be better off in four years.
Additionally, 56% expressed confidence that Trump will do a good job in his second term, signaling renewed hope for the nation’s economic direction.
Small business optimism has surged to a six-year high following Trump’s decisive election victory, reflecting heightened expectations for pro-business policies in the years ahead.
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Biden’s approval rating, at just 36%, is the lowest of his term, according to a CNN poll released Wednesday. Economic concerns consistently ranked as the most pressing issue for voters throughout the 2024 election cycle, underscoring the critical role of financial stability in shaping public opinion.
Trump is set to return to the White House on Monday Jan. 20, marking the beginning of a second presidency that many hope will bring economic recovery. The transition highlights the polarized views on governance and policy, as Americans prepare for a shift in leadership during a pivotal moment in the nation’s history.
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