<p>A record 69% of Americans have a negative view of the economy, according to one poll.</p>
<p>On Tuesday, CNBC released its <a href="https://www.cnbc.com/2023/04/18/public-pessimism-on-the-economy-hits-a-new-high-cnbc-survey-shows.html" target="_blank" rel="noopener">All-America Economic Survey,</a> revealing that nearly seven out of 10 Americans have a dour view of the economy. Two-thirds also believe that the U.S. is heading for a recession, and a similar amount of respondents said that their wages were not keeping up with inflation.</p>
<p>The poll comes as recent Heritage Foundation studies show that the average American has lost $7,400 in income since President Joe Biden entered office, as of January 2023 due to high inflation.</p>
<p>“Prices have risen so much faster than wages that the average family has lost $6,000 in purchasing power,&#8221; Heritage&#8217;s E.J. Antoni <a href="https://www.heritage.org/press/new-heritage-analysis-finds-average-american-family-effectively-7400-poorer-under-biden" target="_blank" rel="noopener">said</a> at the time. &#8220;As the Federal Reserve belatedly raises interest rates to fight the very inflation it helped cause, interest rates are rising fast, increasing borrowing costs by $1,400. Combined with falling real wages, the average family has effectively lost $7,400 in annual income since Biden took office.&#8221;</p>
<p>That inflation was caused in part due to massive government spending under the Biden administration, as well as actions taken by the Trump administration to combat COVID in 2020.</p>
<p>The president has previously denied that government spending contributes to inflation at all.</p>
<p>“So, I’m sick of this stuff!” he <a href="https://www.dailywire.com/news/im-sick-of-this-stuff-biden-complains-that-the-american-people-believe-increased-government-spending-causes-inflation" target="_blank" rel="noopener">said</a> last spring. “We have to talk about it because the American people think the reason for inflation is government spending more money. It’s simply not true.”</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="en" dir="ltr">Biden: &quot;I&#39;m sick of this stuff &#8230; the American people think the reason for inflation is government spending more money. Simply not true!&quot;</p>
<p>🤔 <a href="https://t.co/Xak7CKTjFs">pic.twitter.com/Xak7CKTjFs</a></p>
<p>&mdash; RNC Research (@RNCResearch) <a href="https://twitter.com/RNCResearch/status/1502352045550014464?ref_src=twsrc%5Etfw">March 11, 2022</a></p></blockquote>
<p>On Wednesday, Biden continued to blame  &#8220;MAGA Republicans&#8221; for the state of the economy and claimed that the solution was higher taxes on the wealthy and corporations.</p>
<p><i>The views expressed in this piece are the author’s own and do not necessarily represent those of The Daily Wire.</i></p>

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69% Of Americans Hold Negative View Of Economy