As President Joe Biden approaches the end of his presidency, new surveys reveal a polarized public opinion regarding his tenure and growing anticipation for President-elect Donald Trump’s upcoming term. Criticism of Biden’s economic policies has been widespread, while optimism about Trump’s second term appears to be growing.
A Fox News survey released Thursday found that 52% of Americans believe the Biden-Harris administration has worsened the economy. Additionally, 89% of voters expressed being “extremely” or “very” concerned about inflation, up from 83% in 2021 when inflation hit 7% by December, early in Biden’s presidency.
Since assuming office in January 2021, Biden has faced persistent scrutiny over economic challenges, including high inflation that peaked at 9.1% in June 2022. While inflation has since eased, it remains above the Federal Reserve’s 2% target. Moreover, the national debt has surged to $36.17 trillion, with the federal deficit reaching $711 billion in the first quarter of fiscal year 2025.
A CNN poll published Thursday reflected more optimism for the nation’s future under President-elect Trump. According to the survey, 56% of Americans expect economic conditions to improve within the next year, and 52% believe the country will be better off in four years. Furthermore, 56% expressed confidence in Trump’s ability to perform well in his second term, suggesting renewed hope for economic progress.
Small business optimism has also reached a six-year high following Trump’s election victory, reflecting high expectations for pro-business policies during his presidency.
Biden’s approval rating has dropped to 36%, the lowest of his term, according to a CNN poll released Wednesday. Economic concerns have consistently topped the list of voter priorities throughout the 2024 election cycle, emphasizing the importance of financial stability in shaping public sentiment.
As Trump prepares to return to the White House on Monday, Jan. 20, the nation remains divided on governance and policy. The transition marks a significant moment in U.S. history, with Americans looking ahead to the leadership shift during a critical time for the country.
