Eighty-four percent of likely U.S. voters say inflation and higher costs have affected their lives and 50% feel that Bidenomics has been "bad or very bad for the economy, inflation, and the cost of living," according to a McLaughlin & Associates national survey.
This, as Black Friday and Cyber Monday loom. marking the intensificatioino of a 2023 holiday shopping season that has some retailers anxious about consumer spending.
Forty-nine percent said they would pick Donald Trump over Joe Biden as president in a head-to-head contest, a 2-point increase since McLaughlin's last survey.
"President Trump's strategy to run an issue-centered campaign challenging Joe Biden's failed policies has worked perfectly. Joe Biden's corrupt campaign of indictments against President Trump has backfired," pollster John McLaughlin told the Washington Examiner.
"With 54 days to the Iowa caucuses and 11 months to Election Day, Joe Biden is merely doubling down on failure."
Biden in June touted a broad economic plan he said would help restore the American dream as part of his 2024 presidential run.
"The trickle-down approach failed the middle class. It failed America," Biden said while in Chicago. "I knew we couldn't go back to the same failed policies when I ran. So I came into office determined to change the economic direction of this country, to move from trickle-down economics to what everyone at [The] Wall Street Journal and Financial Times began to call 'Bidenomics.'"
As retailers are gearing up for the season of traditional gift giving, they are keeping a close watch on how inflation and the economy in general will affect spending habits, according to an article this week in The Hill.
The article had experts anticipating a return to prepandemic buying habits this hol;iday season.
Many have primed the pump, so to speak, by offering those Black Friday-style discounts well ahead of Black Friday. “It was basically Black Friday in October, and that is going to keep rolling through the holidays,” Ted Rossman, Senior Industry Analyst at Bankrate.com, said, according to The Hill.
And still, he added, the state of the economy has many retailers and shoppers concerned.
He said "about a third of holiday shoppers specifically say that inflation is affecting their buying decisions.”