Despite declining inflation and record labor market numbers, many Americans see Trump as more likely than Biden to have economic competence.
Washington – According to new surveys, Donald Trump has a large lead over Biden, especially in one important point. According to a survey by the Financial Times Donald Trump has more trust and support among the US population than President Joe Biden, especially when it comes to the economy. Overall, 42 percent of Americans believe Trump would be competent to lead the economy. Biden, on the other hand, only got 31 percent.
“Historic recovery” since the corona pandemic – labor market data extremely good
The survey and the 11-point discrepancy initially seem surprising because the current economic data supports Biden. Since the Corona pandemic, the stock markets have been at an all-time high, inflation appears to have been averted and past employment figures exceeded expectations. The economy should be stimulated even further with the first interest rate cuts by the Federal Reserve, the US central bank, probably in the second half of the year. Treasury Secretary Janet Yellen confirmed the current figures before the House Finance Committee. The US economy has experienced a “historic recovery” since the corona pandemic and inflation has fallen drastically.
The job market in particular is a clear plus point for Biden in direct comparison with Trump. Despite interest rate hikes by the Federal Reserve, 14 million new jobs were created under Biden, reports Washington Post. Biden has an average of around 400,000 new jobs per month, whereas Trump only had 176,000. However, an additional 20 million jobs were lost under Trump due to the corona pandemic.
The gap between Democrats and Republicans has never been greater
Nevertheless, 46 percent of those surveyed are of the opinion that Biden has primarily damaged the economy through his policies Financial Times found out. The economy in particular has historically been an important factor in the election campaign for the office of president. Although the economy was able to recover well from the corona pandemic under Biden, he will have to work hard to earn the trust of voters for the upcoming election campaign.
The survey also shows how big the gap is between Republicans and Democrats. 71 percent of Democrats surveyed approved of Biden's current policies, while only 5 percent of Republicans were satisfied with the president on the economy. Erik Gordon, business professor at the University of Michigan, commented on the current survey in the Financial Times as follows: “Biden’s claim that the economy is doing well under him has not convinced many people. Despite his repeated statements and despite the government's numbers supporting him, he has not moved the needle of rejection.”
Haley against Trump is already way behind
In the coming presidential election, Trump will first have to prevail against Nikki Haley in the Republican primaries. However, this is already far behind. After a defeat against Trump in New Hampshire and most recently in Nevada, things are looking bleak for Haley. The next election is on February 24th in South Carolina, where Trump has the best chance of prevailing against Haley. (Simon Schröder)
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