(TheRedWire.com) – Since the COVID-19 pandemic went into full swing in March 2020, the US economy took a hard hit. Inflation managed to reach 40-year highs and continues to frustrate lower and middle-class citizens. A new Wall Street Journal poll now reveals a scary prediction.
Biden's economy to get even worse https://t.co/1e48Wv4SM2
— Georgia Log Cabin (@GeorgiaLogCabin) December 18, 2022
The polls noted most Americans believe President Joe Biden’s economy will worsen in 2023, not get better. What did respondents tell the pollsters?
- 65% said the economy is heading in the wrong direction.
- 52% said it would get worse in 2023.
- 67% gave the economy a negative review.
- 32% rated it as positive.
The poll also indicated that party affiliation heavily influenced one’s economic outlook. Democrats were generally optimistic about 2023. Yet, Republicans and Independents were much more pessimistic. The survey noted that 83% of Republicans didn’t have a favorable view, and over half of Independents agreed. Still, only 22% of Democrats were on the same page.
Republican pollster Tony Fabrizio said that Democrats weren’t paying the price for the declining economy as some might expect. The 2022 midterm elections bore out this reality as the red wave never materialized.
The poll’s timing came as Goldman Sachs stated it was preparing to lay off thousands of workers, and banks say a looming recession is likely. On Wednesday, December 14, the Federal Reserve announced it was increasing rates by another 0.5%.
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