A new Gallup poll released shows that a majority of Americans feel they are worse off today than they were four years ago.
The Gallup survey was a callback to former President Ronald Reagan, who famously asked his opponent, then-incumbent President Jimmy Carter, during a 1980 debate: "Are you better off than you were four years ago?"
According to the Gallup survey, 52 percent of respondents say their financial situation has declined, while 39 percent say they are better off, and eight percent believe their circumstances have remained the same.
Gallup believes the American people's perception of how their quality of life has changed is one of the biggest questions by which an administration should be judged.
Although President Joe Biden has since dropped out of the presidential race, his chosen successor, Vice President Kamala Harris has to answer for how well the Biden administration has managed the economy over the last four years. (Related: POLL: More voters trust Donald Trump over Kamala Harris on immigration policy and border security.)
For the majority of Americans, there is a feeling that they are not better off than four years ago. Confidence in the handling of the economy remains low, and less than half of Americans say now is a good time to find a quality job.
Economic concerns at the forefront of voters' minds
The economy will be an important consideration at the ballot box this year. As inflation persists and economic concerns dominate voters' minds, the upcoming election may hinge on which candidate can best address these pressing issues.
Gallup’s Mary Claire Evans explained that economic concerns, particularly regarding inflation, are at the forefront of voters' minds as they consider their options in the upcoming election.
"With a majority of Americans feeling they are not better off than four years ago, economic confidence remaining low, and less than half of Americans saying now is a good time to find a quality job, the economy will be an important consideration at the ballot box this year," Evans wrote.
Polling data gathered between Sept. 16 to 28 underscores the partisan divide on the issue. Democrats are more optimistic, with 72 percent saying they are better off, compared to just 35 percent of independents and seven percent of Republicans who feel the same.
Gallup’s Economic Confidence Index (ECI), measured from Oct. 1 to 12, recorded a score of minus-26, reflecting a generally negative outlook among Americans. The findings suggest that inflation remains a top concern for most families, contributing to the perception that the U.S. economy is struggling, despite low unemployment and steady growth in stock markets and housing values.
In the survey, 46 percent of Americans described current economic conditions as "poor," while 29 percent rated them as "only fair." Only 25 percent of respondents rated the economy as "excellent" or "good." A further 62 percent said the economy is "getting worse," while just 32 percent feel it is "getting better."
The most commonly mentioned issues in the poll were the economy in general (21 percent) and inflation (14 percent). Other significant concerns were immigration (21 percent) and dissatisfaction with government (17 percent).
Gallup predicted these issues will weigh heavily on voters in the presidential race as they choose between Harris and Donald Trump.
"As inflation persists and economic concerns dominate voters’ minds, the upcoming election may hinge on which candidate can best address these pressing issues," Evans said.
With economic factors set to weigh heavily in the 2024 election, candidates will need to address these pressing concerns as inflation persists and financial anxieties shape the views of voters across the country.
Visit EconomicRiot.com for more information on the true state of the American economy.
Watch this video discussing how the White House is allegedly lying about inflation and the state of the economy.
This video is from the Son of the Republic channel on Brighteon.com.
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