Recent polls show President Joe Biden is losing support among young voters concerned about economic hardship.
Young voters who have recently graduated from left-leaning academic institutions are typically the demographic that overwhelmingly supports Democratic candidates. Biden won 61% of voters under 30 in 2020.
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The 2024 election cycle could have a different outcome. In Biden’s America, many young voters face tough challenges, including burdensome student loans, an expensive rental market, rising costs due to Biden’s inflation, and credit card debt.
Here’s the percentage of young voters in 2024 who cited the Biden economy as their top issue, according to a Gallup poll released Monday. found:
- 18-29 years old: 47 percent
- 30-49 years old: 43%
- Ages 50-64: 28%
- Over 65: 19%
The share of young voters who say Biden’s economy is the most important issue in 2024 is significantly higher than in 2020.
- 18-29 years old: 11 percent
- 30-49 years old: 18%
- 50-64 years old: 15 percent
- Over 65: 11%
Biden is bleeding According to a March Bloomberg News/Morning Consult poll, support is high among young voters in battleground states. Trump has a 7 point (47% to 40%) lead in demographics in battleground states. Biden won 61% of voters under 30 in 2020.
One reason for the change appears to be the impact of the pandemic.
“They had a more severe impact, in a direct economic way, than the coronavirus itself,” said Kay Kawashima Ginsburg, Newhouse director of the Center for Information Research on Civic Learning and Engagement at Tufts University. He states: Said Bloomberg. “Whether it’s gas, housing, rent, medical bills, they have a very hard time affordably buying those things because they don’t have enough saved wealth.”
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The White House claims wages have increased under Biden’s leadership, but that only represents half the story, Bloomberg reported.
Much of those wage increases are also being eaten up by rising rents, which rose about 18% between October 2020 and January 2024, according to Redfin. According to the Federal Reserve Bank of Atlanta, home prices have increased 21% over the same period, making buying real estate increasingly out of reach for many young people. Voters ages 18 to 34 in swing states are more likely than any other age group to list housing costs as an important issue in their 2024 vote, according to a Bloomberg News/Morning Consult poll.
Debt is also worsening the way some young Americans view the economy, said Gregory Daco, chief economist at EY. The association’s data shows that adults in their 20s and 30s are more likely to be seriously delinquent on their credit card debt, meaning they are 90 days or more past due. new york FRB.
Many young people are making payments on federal student loans that they expected to be forgiven under Biden’s plan. The White House has approved nearly $144 billion in forgiveness in more limited ways, targeting specific groups such as people with disabilities, former for-profit college students, and public servants who have continued to make loan payments for years.
As young voters struggle to gain financial freedom, Federal Reserve data showed on Thursday that Biden’s richest 1 percent of Americans set a record with net worth of $44 trillion at the end of the fourth quarter. revealed that he had done so.
A recent Lending Club study found that the majority of Americans are still living paycheck to paycheck, suggesting that so-called “Bidenomics” is failing to help the average American. There are growing concerns that this may be the case.
Wendell Husebo is a political reporter for Breitbart News and a former Republican war room analyst.he is the author of politics of slave morality.Follow Wendell “X” @WendellHusebø or society of truth @WendellHusebo.
