President Joe Biden looks on
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Joe Biden's Approval Rating Drops To New Low In CNBC Poll

Damir Mujezinovic - Author
By

Jul. 18 2022, Published 11:13 a.m. ET

President Joe Biden is dealing with a number of major issues both home and abroad, with near-record inflation and high prices having a devastating effect on his popularity.

Biden's approval rating wasn't spectacular to being with, but in recent months it has plunged, raising questions about his ability to win reelection in 2024.

A new poll has more devastating news for the commander-in-chief.

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Biden Approval Rating

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In the latest CNBC All-America Economic Survey, just 36 percent of respondents said they approve of the job Biden has been doing as president.

This is one percentage point lower than former President Donald Trump's worst rating, and all relevant data shows Trump was among the most polarizing and unpopular presidents in history.

Conversely, 57 percent of respondents in the poll said they disapprove of Biden's performance in the White House.

Biden's Approval On Economy

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It is clear that high prices and the state of the economy are what's driving Biden's numbers down.

In the poll, just 30 percent of respondents said they approve of Biden's performance when it comes to the economy -- a sentiment shared across the political spectrum.

Six percent of Republicans and 25 percent of independents said they approve of Biden's performance in this regard. A shocking 58 percent of Democrats agreed, which could be a major issue for Biden and the Democratic Party as a whole.

In comparison, former President Barack Obama's economic approval was 37 percent at its lowest point, and Trump's was 41 percent.

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Record Pessimism

Inflation was by far the biggest concern for respondents in the poll, which also found that Americans are more pessimistic than ever when it comes to the economy.

Fifty-two percent in the survey said they expect the economy to get worse over the next year, while just 22 percent said they expect it to improve -- both record numbers.

At the same time, over 60 percent said they expect a recession in the next 12 months and six percent said they believe the country is already in one.

Implications For Midterms

In the poll, people worried about jobs said they prefer Republicans controlling Congress by a 54 to 31 percent margin.

Similarly, those concerned about the cost of living said they prefer the GOP by a 47 to 38 percent margin.

Still, the Republican Party does not have a huge advantage in the upcoming midterms, and mostly because of GOP lawmakers' views on abortion, which is an important issue for millions of voters.

For years, polls have consistently shown that a strong majority of Americans are pro-choice, per NPR.

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