A recent Rasmussen survey found that nearly half of Americans say they are worse off financially than they were a year ago.
A survey of 1,102 Americans conducted just after Christmas found that 45 percent of Americans They say they are in worse financial trouble than a year ago. Only 23% say their lives have improved, a difference of 22 points.
29% said there was a recession last year and that their economic situation was about the same as a year ago.
The poll underscored the failure of the Biden administration's efforts to convince Americans that what the president calls “Bidenomics” is a boon for the country.
The main reason many Americans feel they're falling behind is inflation, or what Biden's critics are calling Bidenflation. Consumer prices rose 3.1% in the 12 months to November, the latest data available. Over the past 12 months, the price has increased by 7.1%. Consumer prices have increased by 16.8% since Biden took office.
Average hourly wages rose faster than prices in the 12 months to November, but workers remain behind in the long run. Average hourly wages have risen 14.3% since President Biden took office, 2.5 percentage points below the level of inflation.
At a time when political divisions are growing, especially on the American left, it's no surprise that Democrats are far more likely to say they're better off than other Americans. Thirty-nine percent of Democrats say they do better. Only 18% of Republicans and 13% of Americans without major party affiliation say they are better off.
Racism is strong, with black Americans on one side and other minorities and whites on the other. Thirty-two percent of blacks say they are worse off than they were a year ago, compared to 45% of whites and 55% of other minorities.
