He COULD use a FEW breaks…..
(He’s still leading Trump and DeSantis by low single digits)
Historically, it can feel as if almost every major political upheaval comes with inflation, whether it’s the Great Unrest in Britain, the Red Summer in the U.S. or even the hyperinflation of Weimar Germany. If high bread prices can be argued to have helped cause the French Revolution, it’s easy to accept that 9 percent inflation (at its peak in June 2022) could hurt Mr. Biden’s approval ratings by five or 10 percentage points.
But if inflation has been what’s holding Mr. Biden back, it’s hard to say it should hold him back for too much longer. Annual inflation fell to 3 percent last month, and real incomes have finally started to rise. The stock market — one of the most visible and consequential measures of the economy for millions of Americans — has increased around 15 percent over the last six months. The University of Michigan consumer sentiment index surged 13 percent in July, reaching the highest level since September 2021 — the first full month Mr. Biden’s approval ratings were beneath 50 percent.
There’s another factor that ought to help Mr. Biden’s approval rating: the onset of a new phase of the Republican primary campaign, including debates. As the Republican candidates become more prominent in American life, voters may start judging Mr. Biden against the alternatives, not just in isolation. Some of the Democratic-leaning voters who currently disapprove of Mr. Biden might begin to look at the Biden presidency in a different light….
Perhaps in part for these reasons, this is about the time when many presidents see their standing turn around. Ronald Reagan and Bill Clinton’s approval ratings were clearly on the upswing at this stage of the election cycle — though both were still beneath 50 percent — as voters began to see and feel an improving economy.
We will see in the months ahead whether Mr. Biden’s ratings begin to increase. I wouldn’t expect it to happen quickly: Mr. Reagan and Mr. Clinton’s ratings increased by less than a point per month between roughly this time and their re-election. Barack Obama’s ratings increased at a similar, if slightly slower, pace from his post-debt-ceiling-crisis nadir a little later in the year….