Record numbers of Americans have reported that they are struggling more financially since Joe Biden took office as president of the United States, according to a new poll.
Here’s what we found out.
What happened: Since Biden took office, 4 in 10 Americans feel they are worse off financially, according to an ABC News/Washington Post poll.
This is the highest percentage to give this answer since the ABC News/Washington Post poll began 37 years ago, according to ABC News.
Additionally, according to the Jan. 27 to Feb. 1 poll, 36% of Americans believe Biden has accomplished “a great deal” or a “a good amount” during his time in office, while 62% think that Biden has not accomplished much.
The Washington Post reported that, with the State of the Union address coming up on Tuesday, the country seems to be “skeptical” prior to hearing what Biden has to say.
Similar results in other polls: In 2022, a Monmouth University poll found that 42% of Americans said they are having financial hardships, which was an 18% increase from 2021, according to the Monmouth University Polling Institute.
This was reportedly the first time that the polling institute found more than 3 in 10 people who said they were struggling financially in the last five years.
What’s been said: “Across the board, American workers are struggling financially, regardless of gender, race, ethnicity, sexual orientation, or earnings; in fact, half of American workers making over $100,000 are worse off this year,” Asesh Sarkar, CEO of Salary Finance, said, according to CNBC.
The New York Post reported that the director of the Monmouth University Polling institute, Patrick Murray, said, “Economic concerns tend to rise to the top of the list of family concerns, as you might expect, but the singular impact of inflation is really hitting home right now.”
Details: The U.S. Bureau of Labor Statistics reported in January that the consumer price index “increased 6.5 percent for the 12 months ending December; this was the smallest 12-month increase since the period ending October 2021.”
A similar increase happened last year, as consumer prices went up 8.3% in August 2022 from the year prior, according NPR.