Inflation continues to be the top concern for voters as large numbers rate both the nation’s economy and their individual finances negatively. That’s according to a new Fox News survey that contains little good news for an incumbent president running for re-election.
Some 83% of voters say the economy is in only fair or poor shape.
That’s more negative by 5 points compared to last month (78%) and worse by 14 points compared to President Biden’s 100-day mark in April 2021 (69%).
Another 66% give their personal financial situation negative marks, up from 58% in December.
Almost as many, 88%, are worried about the future of the country. That includes most Republicans (96%), Democrats (83%) and independents (82%).
Two-thirds are concerned about the U.S. banking system (65%) and being able to pay their bills (64%). Worrying about paying bills jumps to 75% among lower-income households but also stands at 56% for households earning $50,000 or more annually.
“Inflation is a stubborn economic problem and therefore a stubborn political problem,” says Democratic pollster Chris Anderson who conducts the Fox News survey with Republican Daron Shaw. “As long as inflation is squeezing paychecks, Biden is going to have a tough time making the case that his fiscal policies are helping people.”
Currently, 42% approve of Biden’s overall job performance, while 58% disapprove. That’s down from 44% and 55% last month and the lowest since August 2022, when it was also 42% and 58%. His worst was 40% and 59% in July 2022.
There are mixed views over the U.S. response to Russia’s invasion of Ukraine, as 47% approve and 48% disapprove. That’s a touch more positive than a year ago when it was 44% and 51%, respectively.
Despite the uptick on Ukraine, approval of Biden’s handling of foreign policy is at a low of 38%. His approval on border security is also at the bottom (33%), while he gets positive marks on the coronavirus pandemic (50%).
Democrats (68% approve) alone approve of how the U.S. has responded to the invasion, with majorities of Republicans (66%) and independents (56%) disapproving.
A Fox News poll on the Ukraine war (Fox News)
Conducted May 19-22, 2023, under the joint direction of Beacon Research (D) and Shaw & Company Research (R), this Fox News Poll includes interviews with 1,001 registered voters nationwide randomly selected from a voter file who spoke with live interviewers on landline phones and cellphones. The poll has a margin of sampling error of plus or minus 3 percentage points for all registered voters.
Fox News’ Victoria Balara contributed to this report.