Posted On August 8, 2022

This article contains commentary which reflects the author’s opinion
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Pessimism about the economy has reached its highest point since 2008, according to an ABC News/Ipsos poll released Sunday, with an overwhelming majority of Americans believing the economy is getting worse.

Only 12% of Americans believe the economy is improving, ABC reported, with 69% believing the economy is getting worse and 18% saying things would stay the same. The figures represent Americans’ worst collective outlook on the economy since the middle of the 2008 housing crisis, when 82% of Americans believed the economy was getting worse.

President Joe Biden received low marks for his handling of the economy, with 62% disapproving, and inflation, where he is receiving a 69% disapproval rating. Americans’ approval of Biden’s handling of gas prices increased to 34% from a mark of 27% in a June poll.

The economy contracted by 0.9% in the second quarter of 2022, according to the Bureau of Economic Analysis, following a 1.4% decline in the Gross Domestic Product (GDP) in the first quarter. Two consecutive quarters of GDP shrinkage is colloquially considered the definition of a recession, according to Investopedia.

Republicans were showing more enthusiasm to vote than Democrats in the upcoming midterm elections, with 75% saying they were at least somewhat enthusiastic compared to 68% of Democrats and 49% of independents, according to the ABC poll of 665 adults, which had a 4.2% margin of error.

The White House did not immediately respond to a request for comment from the Daily Caller News Foundation.

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Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact [email protected]

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Daily Caller News Foundation

Daily Caller News Foundation
The Daily Caller News Foundation is a guest author for NRN. They are a non-profit providing original investigative reporting from a team of professional reporters that operates for the public benefit.

Kelly Offield is an investigative journalist and columnist for NRN, specializing on Big Tech’s control of information. Click the red bell on the bottom left to turn on NRN’s website notifications and watch Kelly Offield’s author page to follow the developments of his column.





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