{"id":11159,"date":"2023-11-08T14:55:57","date_gmt":"2023-11-08T14:55:57","guid":{"rendered":"https:\/\/infundpros.com\/finance\/half-of-americans-say-their-finances-have-worsened-since-the-2020-election-some-blame-president-biden\/"},"modified":"2023-11-08T14:55:58","modified_gmt":"2023-11-08T14:55:58","slug":"half-of-americans-say-their-finances-have-worsened-since-the-2020-election-some-blame-president-biden","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=11159","title":{"rendered":"Half of Americans say their finances have worsened since the 2020 election. Some blame President Biden."},"content":{"rendered":"
\n

Americans are paying close attention to the economy headed into next year\u2019s presidential election \u2014 and a chunk of them say that so far, they haven\u2019t benefited from President Joe Biden\u2019s approach.\u00a0<\/p>\n

Half of Americans say their financial situation has gotten worse since the 2020 election, according to a new survey from Bankrate.\u00a0<\/p>\n

\n

Of those who shared that their situation hadn\u2019t improved, 45% said the president is at least partially to blame for their souring finances, the survey showed. A little more than a third placed blame on Congress, and 27% pointed to the Federal Reserve. Nearly four in 10 respondents said they don\u2019t blame any of those federal leaders for the lack of improvement.<\/p>\n

Factors including the rising cost of living and shrinking short-term savings were among those posing financial challenges for respondents, the survey indicated.<\/p>\n

Regardless of their own financial situation, the overwhelming majority of Americans will be paying close attention to the course of the economy in the year ahead, the survey showed.\u00a0<\/p>\n

Almost nine in 10 Americans said that the handling of the economy will be a key decision-making factor for them heading into the 2024 election.<\/p>\n

\u201cThe plight of the economy over the next 12 months may help to dictate whether it was wise, or not, for President Biden to trumpet the branding of \u2018Bidenomics\u2019,\u201d Mark Hamrick, senior economic analyst for Bankrate, said in a statement.\u00a0<\/p>\n

The survey matches up with recent reports showing that, despite continued spending and impressive economic growth in the third quarter, Americans remain stubbornly pessimistic in their view of the economy.\u00a0<\/p>\n

The University of Michigan\u2019s gauge of consumer sentiment dropped sharply in October to its lowest level since May. And despite indications that retail sales will be strong during the holiday shopping season, consumers are\u00a0giving mixed signals on how good they feel about their own finances heading into the holidays.\u00a0<\/p>\n

That could be bad news for President Biden, who was trailing former President Donald Trump in five key battleground states in a recent poll from The New York Times and Siena College.\u00a0<\/p>\n

In the Bankrate survey, Republicans were more than twice as likely as Democrats to say their financial situation had gotten worse since the last presidential election.<\/p>\n

People\u2019s opinions about the economy tend to fall along partisan lines, and may say more about their feelings about who is in the White House than economic trends on the ground. A\u00a0CBS News poll\u00a0in August found that 52% of Democrats rated the economy as \u201cgood,\u201d while 15% of Republicans did. <\/p>\n

At the beginning of 2023, Democrats were far more likely than Republicans to predict positive developments for the U.S. economy in the year ahead,\u00a0a Gallup poll\u00a0found, with 36% of Democrats forecasting \u201ceconomic prosperity,\u201d compared with 4% of Republicans. <\/p>\n

In 2017, just after Donald Trump took office, expectations for the next six months sunk to a near historic low among Democrats, while Republicans\u2019 expectations were near a record high, according to\u00a0a University of Michigan consumer sentiment survey\u00a0taken then.<\/p>\n

\u201cWith 3 in 4 Americans saying their personal finances are either worse or about the same, the risk for President Biden is that he\u2019ll get more blame than credit for the economy,\u201d Hamrick said in the release. \u201cBut there\u2019s still a long way to go before election day.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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