Ratings..

 

Americans harbor some of the most downbeat views on the economy since the recovery from the Great Recession, and some of their attitudes are in line with those seen only during recessions.

Amid soaring inflation, 47% of the public say the economy is “poor,” the highest number in that category since 2012. Only 17% rank the economy as excellent or good, the lowest since 2014.

Only one in five Americans describe their personal financial situation as “getting ahead,” the weakest showing in eight years. Most say they are “remaining in place,” and one in 10 say they are “falling backward.” Meanwhile, 56% say they expect a recession in the next year — a level only achieved in the survey during an actual recession.

 The pessimism is clearly dragging on Americans’ opinions of President Joe Biden. In fact, nothing looks to be working in the Biden presidency from the public’s viewpoint.

The president’s approval rating sank to a new low of just 38%, with 53% disapproving. Biden’s -15% net approval rating is measurably worse than his -9% approval in the CNBC December survey. What’s more, his approval rating on the economy dropped for a fourth straight survey to just 35%, with 60% disapproving, putting the president a deep 25 points underwater.

The president also saw double-digit declines, on a year-over-year basis, in economic approval among key constituencies who helped to put him in office: women aged 18-49, people of color and young Americans aged 18-35.