Joe Biden's Economic Plan Is Winning Over Americans

President Joe Biden's economic plans are winning over Americans, according to new polling conducted for Newsweek that asked eligible voters about their views on "Bidenomics."

The Redfield & Wilton Strategies poll carried out on behalf of Newsweek found that 47 percent of respondents said they supported Bidenomics, following the president's speech defining the term in Chicago. The state of the U.S. economy has been a major concern for the Biden administration since the president took office, and his political opponents have strongly criticized his economic agenda, particularly his handling of inflation. However, the president has had successes there.

While conservatives have mocked Bidenomics, the Redfield & Wilton Strategies poll found that 25 percent of eligible voters strongly support Biden's aim "to build an economy from the bottom up and the middle out, not from the top down." A further 22 percent said they supported the president's plan, a total of 47 percent in support of so-called Bidenomics.

Another 23 percent of respondents said they neither supported nor opposed it; 14 percent replied they strongly opposed Biden's aims; while 6 percent stated they were opposed, and 9 percent answered "don't know." The Redfield & Wilton Strategies poll was conducted among 1,500 eligible voters on July 6, 2023.

However, the survey also found pessimism about the direction the Biden administration is taking the U.S. economy. Twenty-four percent of respondents said they were pessimistic about the direction of the economy, while 20 percent replied that they were very pessimistic, a total of 44 percent.

A further 20 percent said they were optimistic about the direction Biden is taking the economy, and 17 percent were very optimistic, for a total of 37 percent. Sixteen percent were neither optimistic nor pessimistic, and 3 percent answered "don't know."

Nonetheless, the poll also found that eligible voters' views on the state of the economy have become more positive since polling took place in October.

In the most-recent survey, 15 percent of respondents said the economy was very good, up from 10 percent in October, while 21 percent replied that the economy was good, compared to 11 percent in the previous poll.

The share of respondents saying the economy is bad has fallen from 31 percent in October to 23 percent in the latest poll, while 19 percent say the economy is very bad, down from 24 percent. A further 20 percent of respondents said the economy was neither good nor bad, down from 22 percent in October.

When it came to eligible voters' personal financial position, 25 percent said it had improved in the last year; 36 percent replied their position had worsened; 34 percent stated it had stayed the same; and 5 percent answered "don't know."

Those figures represent a change since October's poll, when 46 percent of respondents said their financial positioned had worsened in the previous year, while just 18 percent replied that it had improved. A further 33 percent said their position was the same, and 3 percent didn't know.

Newsweek has reached out to the White House via email for comment.