♫musicjinni

President Biden delivers State of the Union address

video thumbnail
President Joe Biden heads into Tuesday’s State of the Union address facing two seemingly contradictory political realities.

On the one hand, the president has economic numbers to gloat about, including the lowest unemployment rate since 1969, inflation that is easing, and an economy that ended 2022 with solid growth. But poll after poll shows Americans aren’t giving Biden credit for the good numbers.

A Washington Post-ABC News poll taken last week found that just 37% of adults approve of his handling of the economy with 41% of Americans saying their personal finances have gotten worse since he took office. Another survey released this weekend from CBS finds similar numbers with 61% of Americans rating the current condition of the national economy as fairly bad or very bad. A third poll from Fox News released last week showed Biden’s approval rating on the economy was at 37%, well below his overall approval rating of 45%.

The dour economic numbers are likely a result of Americans’ ongoing focus on inflation with Biden’s overall economic number mirroring his approval rating on that issue. Americans also appear fearful that a recession could be around the corner — no matter what the positive economic numbers this month show.

Gov. Chris Sununu (R-NH) offered an explanation for the discrepancy during an ABC appearance this weekend: “Go into a grocery store and just talk to people in the cereal aisle. What are they feeling? Do they feel confident about this leadership?” arguing that the overwhelming answer is no.

Sununu also predicted that if Biden takes credit for the strong numbers on Tuesday night, it will end up ringing hollow. The New Hampshire governor says job growth was to be expected following a pandemic and that inflation was also due to come down, saying “of course it’s coming down, it couldn't have gotten any higher."

What it means for Biden’s speech
For the White House's part, top Biden economic advisor Brian Deese promised Monday afternoon that the president would be focused on this disconnect in his speech and "meet the American people where they are."

"The economic anxiety is real," even as life for many Americans has improved, Deese said.

It's likely the president's speech will heavily focus on his economic record and what could be a laundry list of recent economic policy wins. Those include the Bipartisan Infrastructure Law and the CHIPS and Science Act which, Biden is likely to note, were enacted on a bipartisan basis.

Administration aides have repeatedly emphasized that Tuesday presents a rare opportunity for Biden to command a large viewing audience and speak directly to Americans, but few think the president has an easy task ahead of him.

"People are kind of unhappy, and people don't like to be told that they should feel better than they do," says David Wessel, a senior fellow at the Brookings Institution. He added that Biden has a difficult balancing act to pull off during remarks at a virtual Brookings event previewing the speech on Monday afternoon.

The president is also likely to spend considerable time Tuesday on issues that could impact Americans' personal financial situation, such as the administration's announcement last week to limit credit card fees as well as more calls for efforts like expanded child care and paid family leave that were left on the cutting room floor during his first two years in office.

For more on this article, please visit:
https://news.yahoo.com/state-of-the-union-biden-faces-skeptical-americans-as-he-prepares-to-tout-his-economic-record-155923036.html

Don't Miss: Valley of Hype: The culture that built Elizabeth Holmes
WATCH HERE:
https://youtu.be/Sb179GLPNYE

Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb

About Yahoo Finance:
At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.

Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more.
To learn more about Yahoo Finance Plus please visit: https://yhoo.it/33jXYBp

Connect with Yahoo Finance:
Get the latest news: https://yhoo.it/2fGu5Bb
Find Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq
Follow Yahoo Finance on Twitter: http://bit.ly/2LMgloP
Follow Yahoo Finance on Instagram: http://bit.ly/2LOpNYz
Follow Yahoo Finance Premium on Twitter: https://bit.ly/3hhcnmV

Stock market today: Live coverage from Yahoo Finance

What you should know before investing in Treasury bills

Warren Buffet explains how one could've turned $114 into $400,000 by investing in S&P 500 index.

Stock market today: Dow aims for 6th day of gains while Nasdaq slips | March 8, 2024

Stock market today: Stocks climb as S&P 500 notches best 3-day run of 2024 | May 6, 2024

Stock market today: Stocks edge higher, Disney sinks after earnings | MAY 6, 2024

What does the economy's 'No Landing' mean? #stockmarket #stocks #money #stockmarketnews #fed #cnbc

Kevin O’Leary on FTX: ‘I’m going to get the money back'

Warren Buffett on inflation :We're raising prices... it just won't stop'

22 May 2023

Big BREAKING ||Elizabeth Holmes Interview After 15 years prison | US NEWS LIVE

Grayscale CEO on the need for a bitcoin ETF

یوسیلیٹی سٹورز سستے رہے نہ اشیاء کی دستیابی ممکن بنائی جاسکی

Real estate investing opportunities: Analyst talks industrial, specialty, and multifamily plays

Bond market: What to expect in 2023

Nouriel Roubini on the future of equity markets

Chevron C.E.O. "We're drilling new wells"! reports strong quarter 😁😁😁#shorts

Breaking: Prosecutors are urging the judge to sentence Sam Bankman-Fried to 40–50 years in prison!

The 5 Biggest Buyers of Li Auto (LI) Stock #research

Stocks: Analyst predicts the ‘real story for where markets may be headed for 2023’

Is the U.S. economy in a ‘mild’ recession?

Stocks and bond markets close higher, indice leaders consolidate gains

Equity markets disconnected from Fed, bond market: AlphasFuture Founder

33% of America's largest companies are overvalued: stock market analysis #stockmarket #investing

3 key takeaways from Yahoo Finance’s All Markets Summit

Data Suggests Fed to be more aggressive in rate hikes in 2023 #stockmarket #stocks #worldnews #stock

INVEST IN THE FUTURE! RENEWABLE ENERGY! ELECTRIC VEHICLE! DIGITAL INDIA! #stock

Stocks open higher amid mixed week for markets

Market Coverage - Tuesday June 28 Yahoo Finance

Bitcoin & Beyond: Uncovering Ray Dalio's holdings and advice #shorts #bitcoin #bitcoinnews

Disclaimer DMCA