Only 24% of Democrats say they are better off financially under Biden, poll says

“Bidenomics,” President Joe Biden’s plan to strengthen the middle and working class, is delivering results, the White House has said. But Americans, for the most part, don’t buy it, according to new polling.

A majority of Americans say that their personal financial situation and the economy as a whole have worsened under Biden’s watch, according to a Nov. 13 poll from the Financial Times and the University of Michigan’s Ross School of Business.

The online poll surveyed 1,004 registered voters across the country in early November and has a margin of error of plus or minus 3.1 percentage points. It did not breakdown respondents’ opinions based on income level or overall financial well-being.

Just 14% of surveyed voters said their finances are better now than when Biden first took office, according to the poll.

Less than a quarter of Democrats (24%) said that they are better off financially under Biden, while 31% said they’re worse off. Forty-six percent said their fiscal situation is about the same as in 2020.

A similar Financial Times poll from 2019 — when Donald Trump was also three years into his presidency — found comparable, though slightly less striking, levels of dissatisfaction with the economy. By comparison, 35% of surveyed voters said their finances were better off under Trump, and 31% overall said they were worse.

In the current poll, a slim 4% of Republicans said they’re in a better financial position, while 82% said they’re worse off and 13% said they’re doing the same since Biden took office.

When asked whether the president has helped the economy more broadly, respondents revealed a similar level of pessimism.

About 26% of respondents said Biden has improved the economy, while 48% said he has hurt it.

Half of Democrats said the president has helped the economy, while an overwhelming majority of Republicans, 84%, said Biden has hurt the economy.

When asked what their primary source of financial concern was, 82% of respondents said price hikes, indicating inflation and the cost of living remains a top concern for voters.

This story was originally published November 13, 2023 at 9:13 AM with the headline "Only 24% of Democrats say they are better off financially under Biden, poll says."