President Biden criticized coverage of the U.S. economy amid growing backlash from voters over his handling of inflation.
In brief remarks Saturday before boarding the presidential helicopter, Biden expressed confidence in the economy and criticized reporters for the way it was portrayed.
“It’s okay. Look,” Biden said when asked about his economic outlook for 2024, according to records released by the White House on Sunday.
Biden’s criticism is the latest expression of the president’s dissatisfaction with how Americans view the U.S. economy.
Biden enacted trillions of dollars in economic relief and investment legislation shortly after taking office in 2021, helping the economy recover from the COVID-19 recession.
The U.S. unemployment rate was just 3.7% in November, barely above the pre-pandemic level of 3.5%, which was a 50-year low. Annual inflation has also fallen sharply from a peak of 9.1% in June 2022 to 3.1% in November, with the economy defying widespread predictions of a recession.
Still, Biden’s standing among voters has declined throughout the year as voters have grown dissatisfied with the economy under his leadership.
In a Monmouth University poll released last week, Biden’s approval rating fell to an all-time low of 34%, with nearly 70% of respondents disapproving of his handling of inflation.
More than half of respondents also disapproved of Biden’s record on jobs, even though he is leading the way in a historically strong labor market.
Biden and his Democratic allies have largely accused the media and Republican critics of distorting the public’s view of the economy by exaggerating fears of a recession and ignoring record job growth. are doing.
After September’s monthly jobs report far exceeded economists’ expectations, reporters accused Biden of being too fixated on inflation and recession speculation: “Not the happiest people in the world.” — was criticized.
The Biden administration and campaign have emphasized the resilience of the economy, opposing former President Donald Trump, who maintained low unemployment and low inflation for three years before the coronavirus pandemic wiped out 21 million jobs. We have been trying to gain an upper hand on this issue.
But economic experts warn that Biden and his team must also be sensitive to the many ways Americans are still suffering the economic scars of the pandemic.
Although inflation has now slowed considerably, the cost of goods and services that have already been rising for three years continues to rise. Pandemic stimulus and restrictions have also accelerated the rise in home prices and rents, deepening an affordable housing crisis that began long before COVID-19.
Many voters are also struggling with long-term changes to jobs and industries due to COVID-19, as well as the expiration of economic relief programs that temporarily lifted millions of Americans out of poverty.
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