About a month ago, President Joe Biden’s approval rating has dropped, and it is now very close to its lowest level ever.
The president’s approval rating has decreased to 38%, down from 45% in February and 41% in January, according to a new survey by The Associated Press-NORC Center for Public Affairs Research. As American people felt the effects of rising prices in July of last year, his ratings fell to an all-time low of 36%. Biden’s approval rating had been somewhat higher than 40% in recent months.
Biden’s overall popularity rating and his economic approval rating are very different from one another. Democrats support him as president with 76% of the vote, and they support his management of the economy with 63%. On the other hand, relatively few Republicans support Biden on either issue.
Democrats under the age of 45 have a less favorable opinion of Biden than Democrats over the age of 45, which has a detrimental effect on his overall popularity ratings. Compared to 72% of Democrats over 45, just 54% of Democrats under 45 are satisfied with the president’s handling of the economy. Similarly, compared to 85% of Democrats over 45, only 66% of Democrats under 45 support Biden overall.
Just 25% of Americans, according to the survey, think that the country is headed in the right direction or that the economy is doing well.
Adult Americans’ trust in the nation’s banks and other financial institutions has drastically declined over time. Just 10% of respondents indicated they had strong confidence, a significant drop from the 22% who did so in 2020.
The majority of Americans are concerned about government initiatives to regulate banks and other financial firms. In particular, 56% of respondents think that the government is not doing enough to control these organizations, while 27% think that the degree of control that is in place now is adequate, and 15% think that there is too much control.
Both political parties share the worry about insufficient regulation, with 63% of Democrats and 51% of Republicans believing that the current level of bank regulation is insufficient.
Republicans and Democrats tend to view the economy differently, in comparison, in terms of how it is seen to be currently performing. Just 7% of Republicans agree that the economy is improving, compared to 43% of Democrats.