Plurality Say They Are ‘Worse Off’ Financially than They Were One Year Ago

A plurality say they are “worse off” financially than they were one year ago in President Biden’s America, a YouGov/The Economist survey released this week found.

Overall, 45 percent said they are actively “worse off” financially than they were one year, ago, followed by 37 percent who said they are “about the same.” Just 11 percent said they are “better off.”

Responses vary along party lines, as most Republicans, 61 percent, and a plurality of independents, 48 percent, say they are “worse off” financially. A plurality of Democrats, 48 percent, said they are “about the same,” followed by 29 percent who are worse off.” Just 18 percent of Democrats said they are “better off” financially than they were one year ago under Biden’s leadership. 

This could spell trouble for Democrats as voters head to the polls in November, as most identify the economy as a top issue. Specifically, 93 percent identify the economy as an important issue when deciding how to vote in the midterm elections, and of those, 64 percent said it is “very” important. A majority of Republicans, Democrats, and independents share those sentiments.  Overall, 53 percent rate the economy as “poor.”

What is more, 69 percent in the survey said they will either “definitely” or “probably” vote in the midterms, including a majority of independent voters.

The survey was taken June 25-28, 2022, among 1,500 respondents and has a +/- 3.2 percent margin of error.

It coincides with a recent YouGov/CBS News Poll which found that a majority of Americans are concerned about their ability to afford “day to day things” as gas prices remain high and the country endures 41-year high inflation.