CNBC's All-America Economic Survey, released Wednesday, reveals that former President Donald Trump would outperform President Joe Biden by 4 percentage points in a head-to-head election matchup.
The findings also point to diminishing approval for Biden, with a 37% approval rating and 58% disapproval, marking his presidency's second-lowest approval and second-highest disapproval. His approval on economic matters stands at 32%, the lowest in his presidency, with a 63% disapproval rating.
In the wake of recent Hamas attacks on Israel, the American public strongly supports the U.S. government funding military aid for Israel, with 74% of respondents considering it essential for the U.S. government to provide military aid to Israel.
Support for Israel's military assistance surpasses the backing for securing the U.S.-Mexico border, foreign humanitarian aid 72%, and military aid to Ukraine 61%. Additionally, 52% express support for military and economic aid to Taiwan.
And while a significant portion of the population seeks an evenhanded approach to the Israel-Hamas war, 39% favor supporting Israelis over Palestinians, 36% believe both sides should be treated equally, and 19% remain undecided.
Despite Biden's quick public support of Israel and promises to provide additional aid amid the war, only 31% approved and 60% disapproved of the president's handling of foreign policy. Some of this decline in support comes from within his party, with just 66% of Democrats approving of his foreign policy and 74% supporting his economic management, compared to an overall Democratic approval rate of 81%.
Republican and Democratic pollsters highlight concerns regarding Biden's approval ratings and their potential impact on his chances for reelection. Among some demographic groups, such as young people, Black individuals, and Latinos, a decrease in regard for the president is evident, possibly due to economic challenges they've faced.
Despite these challenges, the only bright spot for Biden is that he trails Trump by just four percentage points in a hypothetical head-to-head matchup, with 46% supporting Trump, 42% supporting Biden, and 12% undecided. Both parties' pollsters suggest that Trump's lead would likely be more significant were it not for reservations about the former president.
The survey reveals a clear partisan divide regarding the Israel-Hamas war, with 57% of Republicans favoring support for Israelis, compared to 29% of Democrats and 27% of independents. By contrast, 44% of Democrats and 47% of independents prefer an evenhanded approach.
When comparing this survey with one conducted in 2014, it's evident that Americans aged 35 and older are more inclined to support Israel now than in the past, with substantial growth in senior support. Among those aged 18 to 34, 46% believe both sides should be treated equally, while 11% support Palestinians, marking a shift from 2014.
Regarding government funding priorities, Republicans and independents prioritize securing the U.S.-Mexico border, followed by military funding for Israel. Democrats, on the other hand, prioritize military aid for Ukraine, followed by foreign humanitarian assistance.
The CNBC survey, which polled 1,001 Americans from Oct. 11-15, comes with a margin of error of plus or minus 3.1%.