Analyst discusses how inflation is likely eroding Biden’s numbers

Dec 4, 2021, 11:40 AM
President Joe Biden speaks to members of the media before boarding Air Force One at Minneapolis-Sai...
President Joe Biden speaks to members of the media before boarding Air Force One at Minneapolis-Saint Paul International Airport in Minneapolis, Tuesday, Nov. 30, 2021, after visiting Dakota County Technical College in Rosemount, Minn. (AP Photo/Carolyn Kaster)
(AP Photo/Carolyn Kaster)

SALT LAKE CITY — As prices on grocery items tick up, President Joe Biden’s approval ratings are sinking. But an elections analyst said it’s too early to say if the downturn will doom the president’s chances of being re-elected in 2024.

Nathaniel Rakich of FiveThirtyEight joins the Dave & Dujanovic show on KSLNewsRadio to reveal how inflation is tanking Mr. Biden’s approval ratings.

Rakich said Mr. Biden is seeing his worse approval ratings right now, according to FiveThirtyEight. As of Friday, almost 52% of those polled disapproved of the president’s job of leading the nation while nearly 43% approved.

“These are among the worst numbers that he’s had throughout his presidency,” Rakich said, adding inflation is likely keeping Mr. Biden from lifting his approval rating.

Mr. Biden’s Build Back Better safety-net bill would spend $1.75 trillion over 10 years on clean energy, child care, child tax credits, paid family leave and hearing aids for Medicare enrollees.

“According to polling, 56% of Americans believe that passing the Build Back Better Act would lead to more inflation,” Rakich said.

2024 election a lifetime away

Debbie asked how inflation is likely to impact the president’s chances to become re-elected if he chooses to run again.

“I feel pretty confident in saying that Republicans will have a good year next year,” Rakich said. “I think 2024 is just a lifetime away in politics.”

Rakich said, for example, President Barack Obama did not fare well in the 2010 midterm elections but was handily re-elected in 2012, defeating Republican challenger Mitt Romney.

“There really isn’t a correlation of one election outcome to the next election outcome,” he said.

“Do the polls show that people are confident that . . . inflation is going to continue or that we’re starting to peak?” asked Dave.

Rakich said he had not seen any long-term polls, but one found a majority of respondents saying the costs for the holidays will increase this year.

A record number of Americans say they won’t be buying holiday gifts this year

US feeling pinch of inflation but economy is good, says economist

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Analyst discusses how inflation is likely eroding Biden’s numbers