Four in 10 Americans say they are worse off financially now than since Joe Biden assumed the presidency, according to a new ABC News/Washington Post poll.
It marks a record low in the poll's 37 years of asking the question.
The immediate fallout for Biden is poor approval ratings, but it also puts him in a tight matchup with former President Donald Trump for a 2024 rematch, the pollsters noted.
The poll showed 41% of respondents say their financial situation is worse now than when Biden was sworn in Jan. 20, 2021. Only 16% say they are better off.
When the poll asked Americans the same question two years into the Trump presidency only 13% said they were worse off and 25% reported being better off financially.
Biden's approval rating in the poll was 42% and his disapproval was 53%. He has had a higher disapproval than approval rating since September 2021.
On issues, Biden's approval rating is 37% on handling the economy, 38% on the war in Ukraine, and 28% on immigration.
His approval rating is below most of the past 13 presidents after two years in office, according to the pollsters.
Three — Gerald Ford, Jimmy Carter, and Ronald Reagan — were about even with Biden, while one has been lower: Trump at 37%
Sixty-two percent said they would be disappointed or angry if Biden is reelected and 36% percent said they would be enthusiastic or satisfied.
At this point in Trump's term, 56% said they would be disappointed or angry if he were reelected, and 43% said they would be enthusiastic or satisfied.
In a hypothetical head-to-head race, Trump would beat Biden 48% to 44%, the poll showed. Counting only registered voters, Trump still won by 48% to 45%.
The poll was conducted by landline and cellphone Jan. 27-Feb. 1, 2023, in English and Spanish, among a random national sample of 1,003 adults. It has margin of error of plus or minus 3.5 percentage points. Partisan divisions are 26%-25%-40% Democrats-Republicans-independents.