A newly released poll has delivered a harsh blow to President Joe Biden's reelection campaign, highlighting the uphill battle he faces in terms of economic approval. According to the survey, only 14 percent of voters believe that Biden's policies have led to an improvement in their financial situation. In fact, nearly 70 percent of respondents stated that his economic policies either had a negative impact on the US economy or did not bring about any change. Of those surveyed, 33 percent believed that the president's policies had "hurt the economy a lot."

These findings come at a time when multiple polls indicate that Biden would trail behind former President Donald Trump, his likely Republican opponent, in key battleground states crucial for the 2024 election. However, the Biden campaign remains optimistic, emphasizing that the ultimate judgment will be made by voters at the polling booths. They also point to recent Democratic victories in elections as a sign of strong support.

The Biden administration has been touting their economic achievements, branding it as "Bidenomics" and drawing attention to their efforts in revitalizing the country's industrial sector and creating well-paying jobs. President Biden himself has consistently highlighted the strength of the American economy, presenting it as a global leader capable of setting international standards. However, the latest monthly poll conducted by the Financial Times and the University of Michigan's Ross School of Business indicates that most voters are more aligned with Trump's perspective on the economy.

The survey, conducted by democratic strategists Global Strategy Group and Republican polling firm North Star Opinion Research, involved 1,004 registered voters nationwide. Merely 26 percent of those surveyed felt that Biden's policies had a positive impact. When asked about their biggest financial stressors, a staggering 82 percent cited price increases. Rising prices were noted as the primary economic threat and the major source of financial distress by Democrats, Republicans, and independents alike.

These findings pose a significant challenge for President Biden, particularly considering the limited options available to reverse the public perception of increasing prices before the upcoming elections. Recent polling by the New York Times also indicates that key swing states may lean towards Trump rather than Biden.

Despite the discouraging poll results, the Biden campaign remains steadfast, dismissing them as mere "noise." They draw parallels to negative headlines preceding Barack Obama's successful reelection campaign in 2012. In a memo circulated by Michael Tyler, Biden-Harris 2024 communications director, the campaign highlighted Democrats' recent electoral victories, including gaining control of both chambers of the Virginia General Assembly, holding the governor's mansion in Kentucky, and securing the right to abortion in Ohio through voter support.

Tyler wrote, "It will be a close election, but this is a president and a team that doesn't shy away from a fight. Joe Biden has been counted out time and time again and proved pollsters and pundits wrong. Now is the time to put our heads down, execute, and bring this thing home one year from now."

As President Biden returns to the White House after spending the weekend at his Delaware home, the economic challenges ahead remain significant. It remains to be seen how the administration will address the concerns raised by the polling data and regain public confidence in their economic approach.