- Americans’ top economic concerns are inflation and cuts to Social Security, while lesser concerns include unemployment and losses in the stock market.
- Biden and Democrats are more trusted than Republicans on protecting Social Security and Medicare and looking out for seniors overall and among Americans over the age of 65.
- Nine in ten think it is important to extend Medicare’s solvency, but they support doing so by raising taxes on wealthy individuals and rich corporations, not by cutting Medicare for future retirees.
Half of Americans Have Heard About the Inflation Reduction Act and Two in Three Continue to Support It
Nine in ten Democrats (90%), three in five independents (62%), and two in five Republicans (41%) support Biden and Democrats’ legislation. However, fewer than one in three independents (31%) report hearing “a lot” or “some” about it, down from 40% in late February
Including Medicaid Alongside Social Security and Medicare Boosts Favorable Views, Though All Are Very Popular
Views of “Social Security, Medicare, and Medicaid” are net 12 points more favorable than views of “Social Security and Medicare,” though both are viewed favorably by at least three in four Americans.
- Including “Medicaid” drives up favorability even more among Black Americans (net +25 more favorable with the inclusion), Hispanic Americans (net +20 more favorable), AAPI Americans (net +16 more favorable), and Republicans (net +14).
Inflation and Cuts to Social Security Are Top Economic Concerns; Stock Market and Job Loss, Unemployment Rank Lower on List
Among independents, the next-highest concerns after inflation are Social Security cuts (83%), a recession (83%), and Medicare cuts (82%).
- Losses in the stock market (28% very worried), unemployment, and mass layoffs (29% each) are least worrying for Americans overall.
Biden and Democrats’ Priorities on Childcare and Education Are Far More Popular Than Republican Priorities
Biden and Democrats Are More Trusted on Protecting Social Security and Medicare & Looking Out for Seniors
Concerns Are High About Medicare Running Out of Funds and Americans Want to See Action
More than three in four Americans say they are “concerned” about Medicare running out of funds, while majorities of every partisan and racial group say it is “very important” that the Biden administration and Congress take action to extend the lifetime of Medicare.
- Older Americans say it is more important to extend its solvency (83% very important) compared to Americans 18-44 years-old (49%).
Cutting Medicare to Extend Its Lifetime Is Deeply Unpopular, While Taxing the Rich Is Broadly Supported as an Approach
Large majorities of Democrats (68% oppose), independents (64%), and Republicans (70%) oppose “cutting Medicare benefits for future retirees” to extend Medicare’s solvency; similar or even larger majorities instead support “raising taxes on individuals who earn over $400,000 a year and rich corporations” as a means to extend it (88% of Democrats, 75% of independents, and 64% of Republicans).
Americans Find an Argument About Democrats Going After the Rich and Protecting Social Security and Medicare Convincing
By double-digit margins, independents (net +20 convincing) and every racial group – including white voters (net +16) – say they find the statement “very” or “somewhat” convincing
Bipartisan Majorities Continue to Support the Junk Fees Prevention Act
Clear majorities of Democrats (net +80 support), independents (net +54), and Republicans (net +39) continue to support the legislation.
