According to the latest CNBC All-America Economic Survey, President Joe Biden has the lowest levels of approval of any of his predecessors.
With Americans feeling crushed beneath the weight of rising prices, Biden's economic approval dropped five points from the previous survey in April. Only six percent of Republicans, 25% of independents and 42% of Democrats support the president's economic record.
President Donald Trump's economic approval was lower than that of President Barack Obama.
Biden had a 36% approval rating on his handling of the presidency, one point lower than Trump. A majority of survey participants don't like Biden's handling of the presidency
According to a survey of 800 people across the nation, the president's efforts to combat inflation are not making a difference. Only 12% of them say they're helping. The poll had a margin of error of 3.5%.
CNBC has recorded the worst economic outlook measures for the last 15 years.
The economy will get worse over the next year, and 22% think it will improve. The survey records are worse than the ones during the financial crisis. A majority of people think there will be a recession in the next year. Some people think the country is in one. The levels have only been found during recessions.
The public doesn't think home prices will go up in the next year.
Inflation is the top concern in the country, getting twice as many votes as abortion, which was presented as a survey option for the first time. Climate change was followed by jobs and immigration. For most of the past several years, the coronaviruses was the leader.
Americans are using a variety of ways to make ends meet.
Many people say they are cutting back on entertainment such as eating out and going to concerts. More than half of participants say they are reducing travel. Less than 4% of people are spending more money on groceries. If they don't pay off their balances, the higher the interest will be. Almost half of the participants say they are taking at least four of these measures.
With gas prices high, 50% of the public say they support relaxing environmental rules to ease prices at the pump, with 42% opposing, and 42% favoring a tax on oil company profits returned to consumers.
According to the survey, Republicans have a clear advantage in pocketbook issues. Is climate change and abortion issues enough to give Democrats a boost?
Immigration, border security, jobs and the cost of living are the top concerns of respondents who prefer Republican control of Congress. GOP control is preferred by those most worried about jobs. GOP congressional control is preferred by those most worried about the cost of living. Democratic control of congress is preferred by those who think abortion is the biggest concern.
Americans prefer Republican congressional control by a 42% to 42% margin, but that narrowed from a 10 point gap in the previous survey. Both the Republican and Democratic pollsters were not sure if the emergence of abortion as a major issue would have a significant impact on the results.
It's not certain if the intensity on abortion or other social issues will remain by November or if inflation will be the main concern.
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