President Joe Biden and the White House administration are failing in almost every major issue United States faces right now, starting from the pandemic and immigration crisis on the southern border, to rising prices and the inflation. Up until recently, Biden approval rating of how he was handling the pandemic was pretty high, but the latest surge in new Covid-19 cases dropped the initial, high rating.
Now Biden and the administration are seeing the lowest general rating since taking over the White House in January. What people bother the most seems to be the rising prices and the recent inflation. And our president and his admin look like they won’t do anything to stop the trend.
This was confirmed by the latest poll conducted by Fox News.
The vast majority of Americans are having issues in the last couple of months with the rising prices, whether it comes to groceries or lumber. The problem is much bigger than it seems to be taking into consideration the fact that such a situation prevents people to make long-term plans and investments which will result with slowing down the economy.
The results of the poll confirmed what Biden and his admin feared the most. Majority of the American people (70%) agree that the economy is in very bad shape and 86% are worried because of the inflation.
When asked who is the one to blame for inflation, 79% of Americans answered that Biden himself is the one to blame, while 86% agree that the current situation is a result of the Covid-19 pandemic.
The surging costs of groceries and gas are causing financial hardship for 70 percent of people with incomes of less than $50,000, the poll says.
Over 50 percent of those who earn $100,000 say price increases have also been tough on them.
“The degree to which lower-income households are feeling the squeeze on food and fuel is striking, if not surprising, and highlights the risk that inflation could push families on the brink over the financial edge,” said pollster Chris Anderson.
The poll, conducted by Beacon Research and Shaw & Company Research, was carried out between Aug. 7 and 10. It polled 1,002 randomly selected registered voters across the country.
The inflation has been on the rise for several months now and the trend continued in July as expected. Labor Department’s Consumer Price Index jumped 5.4 percent compared to last year.
The prices for the basic household needs rose 0.5% compared to previous months. Basket of goods and services as well as energy and food costs are added in this category.
When it comes to food prices, Americans pay 3.4% more expensive food compared to last year same period and 0.7% more compared to June 2021. Egg prices rose for 1.6% compared to June, while the prices of the different kinds of meat rose 4.4-4.8% for the same period.
Gasoline rose 2.4 percent from May and is up almost 42 percent from a year ago.