Despair and pessimism have come to America, according to a new NBC News poll. Americans have become extremely pessimistic about the future – after just one year under the Biden administration and 10 months before the midterm elections.
The Biden administration has touted job creation, though the job recovery is just recovering from Covid job losses – no new jobs have been created. There are 4m jobs to be recovered to get back to pre-Covid levels. In this recent poll, 61% of respondents say their family’s income is falling behind the cost of living. In 1996 this number was 50%. The trend is clear and is accelerated under the Biden administration. See this in the chart below.
It is not just in polls that show that the majority of Americans feel they are falling behind, one can see it in real data as well. The chart below shows the gap between real incomes plus savings and the cost of living. It currently requires $4531 annually in debt to fill the cost of living gap. In terms of overall loss in standard of living it has recently dropped dramatically to nearly -$18,000 since 1995 (inflation-adjusted). No wonder people are feeling poorer. See this in the chart below and learn more here.
When it comes to national policies – 70% say America is so polarized that it can no longer solve major issues – and that the division will only continue to grow. 27%, on the other hand, feel that America always overcomes its differences to solve the greatest challenges. In 2010, 50% of those polled said America’ always comes together,’ and 45% said political differences would continue to grow. Learn more here and see this in the chart below.
Remember the then President-elect Joe Biden in a victory speech back in November of 2020? He vowed to heal a nation torn apart by deep political and racial divisions and promised to hear the concerns of both Americans who voted for him and the tens of millions who supported President Trump. See Joe make this speech below.
So how is Joe doing? The Rasmussen Reports daily Presidential Tracking Poll, latest figures show that only 19% Strongly Approve of the job Biden is doing and 49% Strongly Disapprove. This gives him a Presidential Approval Index rating of -30. Learn more here and see the chart below.
It is more than just a political disaster for Joe Biden, but his party (Democrats) as well, as they may get trounced in the upcoming 2022 midterm elections. On the possible optimistic side, the UN health agency chief expressed optimism during a press briefing that 2022 may be the year the world ends the Covid pandemic. With the potential end of Covid, could Biden’s political fortunes change?
Even though many are cheering the end of Covid, economic storm clouds are building. The Covid bills are coming due. What could go wrong?
See more #chartoftheday posts.
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