Between bites of his ice cream cone on Saturday, President Joe Biden tried to convince Americans that the U.S. economy is “strong as hell,” and that their inflation fears are really just a warped view of a global phenomenon that has people “worse off everywhere else” than here.
Americans agree that the economy is hellish, but not in the way Biden perceives it, according to a poll released last week by the conservative website The Federalist.
Some of the findings:
- 88 percent of respondents say the country is very or somewhat likely currently experiencing a recession. That group included an astounding 84 percent of people who approve of Biden’s job performance, and 82 percent of Democrats.
- When asked if the economy has gotten better, gotten worse, or remained the same over the past six months, just 9 percent said things have improved. Among Democrats, 49 percent said the situation has worsened while just 11 percent of them thought it was better.
- Just 36 percent said they agreed with how Biden is fighting inflation, and within that group only 13 percent said they “strongly” approved.
- Even fewer — just 32 percent — indicated they like how Biden is battling record-high gas prices.
Biden last week said he didn’t think America would be in a recession, and even if so it would be “very slight.”
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This assessment came several weeks after his administration and its media allies ditched the traditional definition of recession, which holds that the economy is contracting after two consecutive quarters of negative growth.
Bloomberg Economics on Monday reported that, however, Biden chooses to define it, it was a “virtual certainty” that the U.S. economy will slide into — or deeper into — a recession.
Bloomberg’s “latest statistical projections showed a 100% probability of a recession within the next 12 months as the U.S. economy contends with decades-high inflation, Federal Reserve interest-rate hikes and mounting geopolitical tensions,” MarketWatch reported. That was up from 65 percent in Bloomberg’s last projection.