The Biden administration has been waving pom-poms for their economic strategy, but it looks like the folks on Main Street aren’t joining in on the cheerleading. According to a recent Issues and Insights/TIPP poll, a whopping 64% of Americans report that they’re scraping by paycheck to paycheck. That’s a high number of folks holding their breath until payday.
Even those in the big bucks club are feeling the pinch. More than half of the folks raking in $75,000 or more a year and the investing crowd are shaking in their boots about making ends meet each month. It’s like everyone’s balancing on a tightrope, trying not to fall into the pit of broke-dom.
— Issues & Insights (@InsightsIssues) January 31, 2024
And it’s not just the day-to-day grind that’s got people sweating it out. The survey revealed that many Americans don’t have a dime stashed away for a rainy day. In fact, a solid 24% admitted to having a big fat goose egg saved up, and another 20% said they had a measly $1,000 in their emergency fund. Yikes! Looks like a lot of folks are one broken car or unexpected medical bill away from a financial disaster.
Let’s hand it to the pollsters for bringing everyone together, because it seems like the struggle bus is full and has no party preferences. Democrats, Republicans, and independents alike are all nodding their heads in agreement that their wallets are feeling a little light each month. And who knew that money troubles could unite us all? Black, white, Hispanic – it doesn’t matter. People across the board are feeling the economic squeeze.
So, what’s the verdict? It’s clear as day that the majority of Americans are feeling the financial squeeze. And if President Biden is touting his “Bidenomics” as the golden ticket, then it’s looking like a lot of folks are still waiting for their golden moment.
But hold onto your hats, because the dissatisfaction train doesn’t stop there. Another poll from Rasmussen Reports is making the rounds, and it’s like a big neon sign flashing “disapprove” on President Biden’s economic plan. Looks like more than half of likely voters aren’t exactly giving “Bidenomics” a standing ovation. In fact, 51% are giving it a thumbs down, while only 42% are giving it the nod of approval.
Looks like Bidenomics isn’t sparking fireworks for a lot of folks, and the polls are waving red flags for the administration. It’s a tough crowd out there, and it seems like the Biden team has their work cut out for them if they want to win over the hearts and wallets of the American people. Keep those wallets close, folks – looks like we’re in for a bumpy ride.