Topline
A stunning 88% of Americans now believe the U.S. is on the wrong track and just 10% believe it is on the right track, according to a new poll from the Monmouth University Polling Institute, marking an all-time low for the question, with President Biden facing a whopping 58% disapproval rate as respondents worry chiefly about the economy.
President Biden’s approval rate is declining, hitting an all time low of 36%. (Photo by Chip … [+]
Key Facts
Inflation ranked as the chief concern among one-third of poll respondents, followed at a distance by gas prices (15%), the economy (9%), bills (6%), abortion (5%), guns (3%), and Covid (1%), in a poll conducted among 978 Americans from June 23 to June 27.
The poll found 42% of Americans are struggling to remain where they are financially — the highest number recorded since Monmouth began asking the question five years ago — an increase of 18 points since last year that Monmouth says is equal across most demographic groups.
Biden’s approval rating hit 36% in the poll–beating his previous record low of 39%— and just 15% of respondents approve of Congress.
Patrick Murray, director of the independent Monmouth University Polling Institute, said “most Americans are blaming Washington for their current pain,” but the poll notes that despite their unhappiness, the public remains “evenly divided” over which party they want in control of the federal government.
KEY BACKGROUND
This news comes as the Dow plummeted by over 500 points earlier today, the S&P 500 had its worst start to a year since 1970, gas prices hit record highs last month and fears of a recession loom over Americans. Still, oil prices fell Tuesday, with West Texas Intermediate falling below $100 for the first time since May, which could signal lower gas prices in the future. President Biden’s approval rating is steadily declining, and a Gallup poll found that trust in him and over a dozen other institutions, such as the Supreme Court and Congress, is also at a record low of 27%.
FURTHER READING
Dow Falls 500 Points As Yield Curve Inverts Again, With Global Recession Fears ‘Front And Center (Forbes)
As U.S. Gas Prices Top $5, Here Are The States Where It’s Most Expensive And Cheapest (Forbes)
Trust In U.S. Institutions Hits Record Low, Poll Finds (Forbes)
Source: https://www.forbes.com/sites/darreonnadavis/2022/07/05/88-of-americans-say-us-is-on-wrong-track/