The majority of Americans believe that Democratic success in the midterm elections next month would “hurt” the economy, a new survey has found.
The Convention of States Action/Trafalgar Group survey released Monday was conducted among 1,079 likely general election voters, between Oct. 8-11, 2022, and has a margin of error of plus/minus 2.9 percent.
The survey asked respondents: “Do you think Democrats retaining control of Congress after the 2022 midterm elections would improve or hurt the American economy?”
A total of 58.8 percent of respondents said a Democrat win would “hurt” the economy, while 41.1 percent said they believe it will “improve” the economy.
The question is clearly dividing Democrats and Republicans ,too, with 87.6 percent of Democrat voters saying they believe a Democrat victory would “improve” the economy, while 95.6 percent of Republicans say it will hurt the economy. A total of 66.5 percent of independent voters thought that a Democrat win would “hurt.”
The survey comes roughly two weeks ahead of election day and at a time when inflation and the soaring cost of living are playing heavily on the minds of Americans.
A recent CNBC poll of 800 registered voters found that approval of President Joe Biden’s handling of the economy rose 10 points compared with July, with 40 percent approving and 56 percent disapproving.
‘Trillions in Government Spending Yet to Be Unleashed’
However, just 16 percent of those surveyed said they believe the economy is excellent or good, while 83 percent believe it to be fair or poor.
The same poll found that Republicans hold a double-digit lead over Democrats on key economic issues, such as bringing down inflation, handling taxes, and job creation.
Republican lawmakers have consistently warned that inflation is set to get worse across the country thanks in part to the Biden administration’s big spending bills that have not yet fully entered the economy, such as spending allocated under the American Rescue Plan and infrastructure package.
GOP lawmakers have also stressed that Democratic success in the midterm elections could further worsen the economy.
Despite an even gloomier outlook apparently on the horizon, Democrats have continued to defend the trillions in government spending that experts say has further fueled the current cost-of-living crisis.
In an interview with CBS’ “Face the Nation” on Sunday, for example, House Speaker Nancy Pelosi (D-Calif.) said the unprecedented levels of fiscal and monetary spending were “necessary for people to survive” during the pandemic.
Meanwhile, Biden’s top economic adviser, Brian Deese, played down the risks of a worsening economy in an interview with the Financial Times on Sunday, insisting that the U.S. labor market has a “degree of strength and resilience” and that the county is well positioned to “navigate through this transition.”