A recent poll by the Associated Press and the NORC Center for Public Affairs Research shows that just under a quarter of Americans believe that the economy is doing well at home, a decrease from 30% last month to 24%. Both political parties have shown a decrease in positive views towards the economy, with Democrats at 41% and Republicans at 7%.
In terms of President Biden’s handling of the economy, a third of Americans approve while two-thirds disapprove. The majority of Democrats (61%) support Biden’s approach, while only 6% of Republicans feel the same. Biden’s approval rating for the economy is 33%, which is slightly higher than his rating for immigration and gun policies but lower than his score for student loan handling.
The poll also found that two-thirds of Americans are very concerned about possible debt limit violations, with only 11% expressing confidence in the debt limits. Most Americans believe that the economy is in poor shape overall, which is consistent with other recent surveys showing low confidence in economic leadership. The surveys were conducted from May 11-15, and each had an error of 3.4 percentage points.
In other news, a chipmaker is planning to invest $4 billion in a new facility in California. This information is important as it signals growth and potential job opportunities in the tech industry.
Overall, the poll results suggest a lack of confidence in the current state and management of the economy, with Americans expressing concern about economic stability and leadership.