Categories: Economic News

Biden’s approval rating rises after a series of unexpected victories

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President Joe Biden’s dismal approval rating is starting to show signs of a turnaround after a recent stretch of accomplishments that few saw coming earlier this summer.

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FiveThirtyEight’s composite approval rating for Biden, which is a weighted average of a series of polls, rose to 40.6% on Wednesday, up more than 3 percentage points from 37.5% on 21 of July, the lowest of his presidency so far.

It’s the biggest bump in Biden’s approval rating since he became president.

Biden’s low came just days before Sen. Joe Manchin (DW.Va.) suddenly announced he had struck a deal with his fellow Democrats on the Inflation Reduction Act, signing more than $360 billion in spending to combat climate change after enduring previous versions. of the bill for a year while the price of the legislation was negotiated down.


Biden’s approval rating is still lower than former President Donald Trump’s at the same point in his presidency: 42%, according to FiveThirtyEight.

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Biden boasted an approval rating of more than 50% for nearly his first seven months in office, but fell below that threshold on August 16, 2021, the day after the capital of the ‘Afghanistan, Kabul, fell into the hands of the Taliban, when the US withdrew its troops from the country. country The troop drawdown and ensuing chaos in Afghanistan, culminating in a bombing that killed 13 Marines near Kabul airport on Aug. 26, marked what many consider a turning point in Biden’s presidency as his administration began to face strong criticism from across the political spectrum. Biden’s approval rating fell from more than 52 percent in late July 2021 to less than 45 percent in late September, according to FiveThirtyEight, and continued a steady decline for months as voters expressed frustration with the highest inflation in more than 40 years.

What to watch out for

Democrats were expected to suffer heavy losses in the November midterms, largely due to Republican candidates bashing Biden’s record, but the tide may be turning. Democrats are now favored to retain control of the Senate, according to the FiveThirtyEight model, with some betting markets suggesting Democrats may expand their majority in the chamber. Republicans are still expected to take control of the House.

To read more

Biden’s approval rating hits record low, polls show (Forbes)

Manchin reaches deal with Schumer on energy, health care bill, including remnants of Build Back Better (Forbes)

Gas falls below $4 a gallon for first time since March (Forbes)

Stocks under pressure despite strong jobs report as investors fear bigger Fed rate hikes (Forbes)

Inflation rose 8.5% in July, slowing for the first time in months as gas prices fall from recent highs (Forbes)

US Kills Top Al-Qaeda Leader Ayman Al-Zawahri in Afghanistan Drone Strike (Forbes)

Senate passes bill to benefit veterans exposed to toxic burn pits (Forbes)

CHIPS Act Passes: House passes $280 billion bill to boost microchip production and counter China (Forbes)


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