Paul Bedard writes for the Washington Examiner about a piece of economic news that bodes ill for President Biden.
“Bidenomics” isn’t working well, and now there’s proof.
Despite records being broken on Wall Street, those on Main Street are living and working for their next paycheck and have little saved for an emergency.
In the latest Issues and Insights/TIPP poll, released early Wednesday, 64% said they are “living ‘paycheck to paycheck’ these days.”
Even those with good incomes are struggling, the poll analysis said. “More than half of those in the wealthiest income bracket — those earning $75,000 or more a year (53%) — and those who are investors (51%), another relatively wealthy group, each said they’re also having trouble making ends meet on a monthly basis,” the analysis said.
People also don’t have much put away for emergencies, the survey said. Some 24% reported $0 saved, and another 20% said they had just $1,000 set aside.
“In short, economically speaking, Americans are ill-prepared for financial emergencies,” the poll said.
The results showed that people’s economic troubles have little to do with politics or race.
“The public’s concern is bipartisan, with 63% of Democrats, 67% of Republicans, and 62% of independents saying they’re just scraping by each payday,” Issues and Insights said.
“The problem even seems to unite everyone by race, with 62% of white Americans and 69% of black and Hispanic Americans agreeing they’re struggling financially,” the report said.
“What does all this mean? Simple. Most Americans are having trouble making ends meet,” it added.
President Joe Biden has been on the campaign trail bragging about the impact of his self-named “Bidenomics,” but several recent polls have shown that people aren’t feeling it.
In fact, nearly twice as many likely voters said “Bidenomics” is more likely to help former President Donald Trump than Biden. Rasmusen Reports asked in a survey last week, “Do you approve or disapprove of ‘Bidenomics’?” and 51% said they disapprove, while 42% said they approve.
