The days of Trump’s bustling economy are officially gone.
Confidence in the economy slipped to the negative territory this week as Americans grapple with the policies and regulations put in place by the octogenarian president Joe Biden.
According to a recent poll, Economic Confidence Index dropped -7 points since April alone. The results were published by Gallup on Monday.
Gallup said the recent shifts in confidence may be due to rising prices and shortages of many products, services, and materials that weren’t experienced during the Trump administration.
Prior to the pandemic in February 2020, the Economic Confidence Index stood at a sky-high 41 under Trump’s leadership.
The slip in confidence comes as Republicans routinely voice their concern with the direction of the economy. The index showed Republican support of Biden’s policies dropped -52 points in may. Democrats declined too, going from 31 to 27 points in just one month.
However, many Democrats believe the economy is getting better, according to the poll. Just 13 percent of Republicans agree. More than eight in 10 Republicans, 84 percent, believe the economy is getting worse. Independents are slightly more likely to say the economy is getting worse (50%) rather than getting better (44%), Gallup said.
Author: Asa McCue