Joe Biden’s State of the Union address hit back with a poor poll rating

Nearly 4 in 10 Americans described being in worse financial shape now than they were two years ago when Biden took office.Washington Post Poll released on Sunday. Only 16% said they were in better shape.

It’s the worst result since pollsters first asked the question in 1986, when Ronald Regan was still president.

The results, which come amid high inflation that is eroding Americans’ purchasing power, paint a bleak picture for Biden as he reaches the halfway point of his four-year term. It also promises to be a major hurdle in his expected candidacy for re-election in 2024, which he could announce in the next few weeks.

In an effort to solidify his support and reverse negative poll numbers, Biden used his State of the Union address to detail how he intends to help Americans struggling with economic hardship caused by inflation hitting hit a 40-year high of 9.1% in June. He spoke of a “blue-collar blueprint” for rebuilding America that would add jobs – many workers – to the 12 million already created during his presidency.

Biden also spoke of helping those in need and raising taxes on the rich. And he spoke of the benefits of his $1 trillion infrastructure bill and planned nearly $300 billion investment in building the domestic semiconductor industry.

But Biden failed to mention a few economic issues. For example, he skipped discussing home prices, which are falling due to higher mortgage rates. Nor did he address the risk of a recession, which is putting American companies in the shade as they cut costs amid fears of a further deterioration in the economy.

The negative public sentiment noted in the most recent poll stands in sharp contrast to what it noted during the Trump administration. At the same time in his presidency, far fewer people — just 13% — said they were worse off financially, while more — 25% — said they were better off, according to ABC News/Washington Post Opinion poll.