You almost have to feel sorry for the folks at the White House in charge of economic policy.
The unemployment rate in March ticked down to 3.5 percent, one of the lowest levels in records stretching back decades. The consumer price index (CPI) rose by just 0.1 percent, with the price of groceries flat compared with February and gasoline prices falling. Yet public approval of the Biden administration’s economic policies remains extremely low, and approval of the Big Guy himself keeps falling.
CNBC’s All-America Economic Survey was released on Tuesday. It showed that Americans are more pessimistic about both current and future economic conditions than they have been at any time in the 17-year history of the survey. Americans disapprove of Biden’s handling of the economy by a 62 percent to 34 percent margin, worse than the miserable 57 percent to 38 percent recorded back in November.