- The vast majority of Americans remain pessimistic about the national economy, while unease about their personal financial situation has hit an all-time high since the beginning of Biden’s presidency.
- Growing majorities of Americans show concerns about inflation broadly and feel the costs of gas and groceries have increased“significantly” or “a lot” recently.
- An overwhelming and growing majority of Americans blame inflation on corporations being greedy and raising prices to make record profits.
Americans Are the Most Pessimistic They Have Been About Their Personal Finances Since Biden Took Office
Nearly two in three (64%) say they are uneasy about their personal financial situation, the highest share since Biden’s inauguration.
• Nearly nine in ten independents (86%) rate the state of the U.S. economy negatively, and two in three (65%) feel uneasy about their personal financial situation over the next few months.
A Growing Majority Are “Very Concerned” About Inflation and See Range of Items Getting More Expensive
Since May 2nd, there has been a 5-point increase in the share who say they are “very concerned” about inflation, with the greatest increase coming from independents (9-point increase, from 51% to 60%).
Intensity of Feelings that Gas and Groceries Are Increasing in Price Is Universal and Growing
Since early May, there has been a 14-point increase in the share who say the price of gas is going up “a lot” (from 75% to 89%) and a 7-point increase in the share who say the cost of groceries is going up “significantly” (from 77% to 84%).
Americans Increasingly See Corporations Being Greedy and Raising Prices to Make Record Profits as a Cause of Inflation
Since January, there has been an 8-point increase in the share who say corporate greed is a cause of inflation (from 73% to 81%).
• Increases in blame for greedy corporations have been universal: there has been a 7-point increase among Republicans (from 64% to 71%), a 13-point increase among independents (from 67% to 80%), and an 8-point increase among Democrats (from 82% to 90%).
On Oil and Gas, “Price Gouging” Is Most Descriptive, While on Big Pharma, “Corporate Greed” Is Strongest
Two in five Americans say a statement about oil and gas companies making $35 billion in profits while Americans pay more for gas is best described as “price gouging” (44%), while a majority describe pharmaceutical companies increasing revenue while Americans pay more for prescription drugs as “corporate greed” (54%).
• In both cases, language about corporate “profiteering” is least likely to resonate with Americans.
Americans Are Not Hearing “A Lot” About New Economic Legislation from Biden, Though Seven in Ten Support It
Just half (51%) report hearing “a lot” or “some” about Biden and Democrats’ economic plan, but majorities of Democrats (89%), independents (57%), and every racial group support it, along with a plurality of Republicans (47%).
Strongest Rebuttals on Baby Formula Shortage Criticism Emphasize What Biden and Democrats Have Done to Fix It
When testing a range of arguments against a Republican hit on Biden and Democrats for the shortage of baby formula, the best
responses focus on what Democrats have done to address the problem – including increasing production. Weaker arguments highlight that shortages were a problem before Biden entered office.
About The Study
May 23, 2022. 102 additional interviews were conducted among Hispanic voters. 62 additional interviews were
conducted among Asian American and Pacific Islander voters. 105 additional interviews were conducted among
African American voters. 102 additional interviews were conducted among independent voters.